Key facts
- Australia's gasoil stocks increased in the week ending July 30.
- Australia's jet fuel stocks increased in the week ending July 30.
- Australia's gasoline stocks decreased in the week ending July 30.
- Electric vehicle sales reached 23.4% of new vehicle purchases in Australia in June.
- Electric vehicle sales were 8.3% of new vehicle purchases in Australia in the previous year.
In Australia, inventories of gasoil and jet fuel saw an increase during the week concluding on July 30. Concurrently, stocks of gasoline experienced a decline. This shift in fuel stock levels is occurring against a backdrop of rapidly growing electric vehicle (EV) adoption. In June, EVs represented 23.4% of all new vehicle sales, a significant escalation from the 8.3% market share recorded in the same month of the previous year. This surge in demand for electric mobility is beginning to manifest in reduced consumption of traditional petroleum-based fuels like gasoline, thereby influencing inventory levels for these products.