Argentina: Fuel sales dropped by 88% during the lockdown
A report reveals that the 12-day quarantine in March had a devastating impact on fuel sales at gas stations.
The Argentine Confederation of Hydrocarbon and Related Trade Entities (Cecha) released a report that estimates an 88% drop in fuel sales at gas stations following the implementation of isolation measures in the fight against the expansion of COVID-19.
The report, prepared by the consultancy firm Economic Trends for Cecha and the Fuel Economy Analysis Forum, reveals that the 12 days quarantine in March had a devastating impact on fuel sales at the country's gas stations.
"Gasoline sales volumes dropped 88.3% in the retail segment and 88.5% in the total retail market, while diesel sales volumes dropped 62.5% in the retail segment and 45.3% in the total retail market," the report describes.
The data collected refers to March, since the prevention measures came into effect on the 20th of this month. Looking at the whole month, however, there is stability in relation to previous months. Fuel sales experienced two very different periods in March, with the first 19 days functioning relatively normal and the last 12 days, with the preventive social isolation measures already in place, in which they were drastically reduced.
"These drop levels generate losses in practically all the country's fuel stations, because even the stations that before the Covid-19 pandemic had high volumes, after these drops end up below their balance," reads the report.
With the publication of this report, Cecha intends to raise awareness of the complicated situation that service stations in Argentina are going through, for which they are requesting state aid measures.
"Without the service stations, the trucks, ambulances, and cars of the health system would not be able to provide their essential services. Like the rest of the SMEs, this puts us in a critical situation, there are many stations that are in the red," Cecha President Gabriel Bornoroni said in early April.
