Jet fuel consumption falls 40% during first quarter

The consumption of jet fuel in South Korea saw a 40.5 percent year-on-year drop during the first quarter this year, according to the latest data from the Korea National Oil Corporation.

With most international flights from Korea canceled due to weak travel demand and international travel restrictions amid the coronavirus pandemic, the industry consumed just 11.59 million barrels of oil.

Overall oil consumption was down 2.9 percent during the same period, standing at around 443.93 million barrels. With social distancing in place, traveling is restricted even within the country, which led to a drop in fuel oil consumption, further denting the overall figures.

By Yim Hyun-su (hyunsu@heraldcorp.com)