Italy's Eni see domestic fuel sales rise after COVID-19 infection rates peak

Eni is seeing an uptick in fuel demand in Italy from lows during March when the country's lockdown hit pump sales by up to 80%, Eni's CEO Claudio Descalzi said Friday.

In March, Eni saw its fuel sales reduced on average by 70-80% from normal levels, with gasoline sales hit more sharply than diesel consumption as many delivery trucks were still operating, Descazli told a quarterly earnings call.

"The good news is that is improving, by some percentage points, but it's improving," he said referring to Eni's transport fuel consumption.

"We think, by the end of May, the critical phase is finished and we will start gradually to recover the consumption and go to a possible normal situation by the end of the year."

The Italian government locked down the country -- one of the world's hardest-hit by the COVID-19 pandemic -- in early March but is expected to start easing restrictions in the coming weeks after the number of people confirmed as infected recently peaked.

Reporting Q1 earnings Friday, Eni said its retail fuel sales in Italy totaled 1.12 million mt, down by 19% year-on-year, with a notable fall in motorway fuel sales and consumption declining from February.