Pakistan’s petroleum sales surge 20 per cent in September amid price cuts

ISLAMABAD: Pakistan’s total petroleum product sales surged to 1.27 million tonnes in September, marking a 20 per cent increase compared to the same month last year.

According to a report by brokerage firm Arif Habib Limited (AHL), this significant rise in sales was driven by stronger demand, boosted by a reduction in petrol (MS) and high-speed diesel (HSD) prices, which dropped by 20.19 per cent and 20.06 per cent, respectively, year-on-year.

Petrol sales rose by 22 per cent in September 2024, reaching 0.63 million tonnes compared to 0.52 million tonnes during the same period in 2023. High-speed diesel sales also showed robust growth, increasing by 25 per cent year-on-year to 0.49 million tonnes.

Conversely, sales of Furnace Oil (FO) saw a decline of 18 per cent, dropping to 0.07 million tonnes from 0.08 million tonnes last year. This reduction is attributed to a lower demand for furnace oil in power generation.

On a month-on-month basis, petroleum product sales rose by 5 per cent in September compared to 1.22 million tonnes in August. AHL noted that the increase was due to reduced demand in August, which experienced higher-than-usual rainfall.

In the first quarter of fiscal year 2025 (1QFY25), overall petroleum product sales declined by 3 per cent year-on-year to 3.68 million tonnes, compared to 3.81 million tonnes in the same period last year.

While petrol sales remained stable, high-speed diesel and furnace oil experienced declines. The sales volumes for petrol, HSD, and FO stood at 1.85 million tonnes, 1.42 million tonnes, and 0.21 million tonnes, respectively.

According to Business Recorder, among companies, Pakistan State Oil (PSO) saw an 8 per cent increase in sales in September, reaching 0.55 million tonnes. Sales by HASCOL and Shell Petroleum grew by 76 per cent and 17 per cent, respectively, while Attock Petroleum Limited (APL) experienced an 8 per cent drop in dispatches during the same period.

Read next: What are the PTA approval charges for iPhone 16 models?