Major petroleum product sales grew by 6% in the first quarter 1996, compared to the equivalent period in 1995, the South African Petroleum Industry Association announced today.
The major product, petrol, which comprises over 50% of South African demand, grew by 6% as compared to 5.4% for whole of 1995. This relects continued buoyancy amoungst consumers in psite of the fact that the economic upturn is entering its fourth year of positive growth. However, there is evidence of a flattening in consumer demand. New car sales for the first quarter were down 5.3% on the same period 1995 but still reflected a total of over 55,000 new cars on the road.
There is a slow down in the growth of manufacturing and other supply sectors and this is reflected in the slower growth in demand fro diesel. However the significant transport sevtor consumed around 17% more diesel in teh first quarter of 1996 compared to 1995. The oter significant growth sectors of illuminating paraffin and fuel oil came of low bases in 1994 and this trend is not expected to continue at such a high rate. Jet fuel continued to show high growth after growth rates in excess of 10% in both 1994 and 1995. This is evidenced by thefact that 300% more airlines are now coming to South Africa compared to 1992.
In response to requests for historical data, the Association makes available the quarterly figures for 1994 to 1998.