Demand for gasoline and diesel in Latin America is gradually increasing, but the recovery is still quite slow. This is what the report “Forecast of the Latin American oil market”, by S&P Global Platts, points out. According to the study, Mexico and Brazil, the two main markets in the region, continue to show lower than expected numbers and the forecast is that Latin American demand for gasoline (including biofuels) will reach an average of 2.42 million barrels. per day in the second quarter of 2021, 255 thousand barrels per day less than in the same period of 2019, the pre-pandemic year.

"The magnitude of the recovery in demand to pre-pandemic levels in the region is quite large and probably not achievable in 2021, as Covid-19 continues to affect mobility in several countries, despite ongoing vaccination efforts," he points out. the report.

The report also shows that Brazilian demand for gasoline / ethanol is also relatively weak. The demand for hydrous ethanol in February gained momentum and reached an average of 385 thousand barrels per day, an increase of 25 thousand barrels per day in relation to January, but a decrease of 15 thousand per year. However, the gain came at the expense of sales of C gasoline (gasoline mixed with 27% ethanol), which reached an average of 620 thousand barrels per day in the month, about 25 thousand barrels per day less in the month and a significantly lower number. year against year. As the state of São Paulo, the largest fuel market in the country, has been stalled since March 6, this has shaken the prospects for a more agile recovery in the demand for gasoline / ethanol in the country in the short term. "With a persistently high rate of COVID infections in the country, the risk to our demand outlook is strongly tilted to the downside in the short term."

Regarding diesel, the S&P Global Platts report points out that, for the second quarter of 2021, demand in Latin America will be 2.58 million barrels per day, an increase of 375 thousand barrels per day in relation to the same quarter of the year. last year. However, when compared to the second quarter of 2019, demand, in 2021, is 130,000 barrels per day weaker. The study states that demand should continue on an upward trend, although not very sharp, but that a series of risks may impact the outlook, which includes a relatively high level of prices for crude oil and refined products, lack of economic stimulus packages in across the region, high levels of unemployment and stubbornly high rates of COVID infection, among others.