China's diesel demand has peaked earlier than expected due to the rising popularity of LNG-fueled heavy-duty vehicles.
Chinese diesel demand has already peaked, earlier than expected, as the use of LNG as a fuel in heavy-duty vehicles has been surging in recent months, analysts tell the Financial Times. LNG has started to displace diesel as the fuel of choice in trucking, especially in northern China , according to industry experts and officials.
Gasoline demand may be plateauing, but diesel demand is outright falling, according to analyst projections. China’s diesel demand in the second half of 2024 is set to decline by between 2% and 7% on an annual basis, according to four out of five analysts in a Reuters survey. LNG-fueled heavy-duty vehicles are set to limit diesel use for transport, especially now that LNG is cheaper than diesel.
Diesel LNG Trucks Fuel Shift Energy Transition Oil Demand Peak Demand Electric Vehicles CNPC
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