Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the Philippines - 2022
Contents:
- Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the Philippines (CIF) - 2022
- Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the Philippines
Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the Philippines (CIF) - 2022
In 2022, the average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $3,472 per ton, growing by 484% against the previous year. In general, the import price posted a significant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +0.8% per year.
Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the Philippines
For the third consecutive year, the Philippines recorded decline in overseas purchases of residues; of petroleum oils or of oils obtained from bituminous mineralses, which decreased by 99.9% to 89 kg in 2022. Over the period under review, imports recorded a sharp setback. The smallest decline of -39.1% was in 2021.
In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses dropped remarkably to $309 in 2022. Overall, imports showed a significant decrease. The pace of growth was the most pronounced in 2021 with an increase of 6% against the previous year.
| Import of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 0.9 | 0.8 | 0.7 | N/A | -11.8% |
| United States | N/A | N/A | N/A | N/A | 0% |
| Indonesia | 11.3 | N/A | N/A | N/A | 0% |
| Singapore | 0.2 | 0.3 | 0.3 | N/A | 22.5% |
| Others | 0.1 | 0.1 | 0.2 | N/A | 41.4% |
| Total | 12.5 | 1.2 | 1.2 | N/A | -69.0% |
Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to the Philippines in 2022:
- United States (89.0 kg)
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