Jet Fuel Sales in Italy Surpass Pre-Pandemic Levels for the First Time

20 Dec, 2023

Jet Fuel Sales in Italy Surpass Pre-Pandemic Levels for the First Time

In November, Italy witnessed a noteworthy resurgence in its aviation sector as jet fuel sales surpassed the levels seen before the pandemic struck in 2019. This milestone indicated a promising trajectory for the recovery of air travel within the country.

Data compiled from Italy's Ministry of Environment and Energy Security, analyzed by Bloomberg, unveiled a substantial 19% increase in monthly jet fuel sales. November's figures soared to 342,000 tons, surpassing the consumption recorded in the same month of 2019, which stood at 337,000 tons.

This surge in jet fuel consumption signaled a steady rebound for Italy's aviation industry, which had grappled with consistently lower sales post-pandemic due to the widespread impact of Covid-19 restrictions and lockdowns. This positive trend aligns with a broader global recovery observed in air travel, with notable advancements seen in regions like China and India. Additionally, the United States was poised to experience a surge in travel demand during its holiday season, indicating a widespread resurgence in the aviation sector worldwide.

Moreover, November marked a significant milestone as Italy's overall oil product consumption surpassed sales from the same month four years earlier, albeit by a narrow margin. Sales of gasoline, transport diesel, and diesel/gasoil also mirrored this upward trend, reflecting an overall recovery in oil product consumption. However, liquefied petroleum gas remained the only major product that continued to lag behind pre-pandemic sales figures.

Throughout the year, Italy had experienced a consistent lag in total oil product sales compared to the levels witnessed in 2019. This trend was primarily influenced by subdued demand for jet fuel and an uneven recovery in various key oil products, particularly transport diesel. Surprisingly, gasoline emerged as the sole major product that consistently surpassed pre-pandemic levels, highlighting a robust revival in its consumption compared to other oil products.

The resurgence in jet fuel sales not only signifies a hopeful revival for Italy's aviation sector but also underscores a broader positive trend in the recovery of the country's oil product consumption. As the world gradually emerges from the shadow of the pandemic, these indicators paint an optimistic picture for the future of air travel and the oil industry both in Italy and globally.