OMCs record 13.5 per cent drop in August sales

WEB DESK: The sales of oil marketing companies (OMCs) in Pakistan dropped by 13.5 per cent in August 2024, totalling 1.22 million metric tons (MTs), compared to 1.41 million MTs in the same month last year, according to data from the Oil Companies Advisory Council (OCAC).

Despite this year-on-year decline, sales in August 2024 saw a slight 1.6 per cent increase compared to July 2024, when sales were recorded at 1.2 million MTs.

Over the first two months of the ongoing fiscal year (2MFY25), cumulative sales reached 2.41 million MTs, marking a 12.5 per cent decrease from the 2.76 million MTs sold during the same period in the previous year.

Breaking down the sales by product, Motor Spirit (MS) sales in August 2024 dropped by 7 per cent to 0.62 million MTs, High-Speed Diesel (HSD) sales declined by 16.9 per cent to 0.46 million MTs, and Furnace Oil (FO) saw a significant decrease of 45.3 per cent, with sales reaching only 64,501 MTs.

According to Mettis Global, among individual companies, Pakistan State Oil (PSO) experienced the largest decline, with its total sales falling by 27 per cent to 0.53 million MTs compared to last year.

Attock Petroleum Limited (APL) followed, with a 24 per cent drop in sales to 0.11 million MTs. Shell Pakistan Limited (SHEL) also saw a decline, with its sales down by 6 per cent to 0.09 million MTs.

In contrast, Hascol Petroleum Limited (HACOL) recorded an 18 per cent increase in sales, reaching 0.04 million MTs.

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