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Sale of total petroleum products in Pakistan clocked in at 1.22 million tons in August, a decrease of 14% year-on-year.

“The reduction comes on the back of i) availability of smuggled petroleum products from Iran, and ii) higher rainfall during the period,” said Arif Habib Limited (AHL)

The offtake of petrol declined by 7% YoY in August 2024, settling at 0.62 million tons, compared to 0.67 million tons in same month last year.

Similarly, high-speed diesel (HSD) dispatches dwindled by 17% YoY to 0.46 million tons in August 2024. Meanwhile, Furnace Oil (FO) sale volumes reduced by 45% YoY, reaching 0.06 million tons, as compared to 0.12 million tons in SPLY.

Sale of petroleum products inches up 4%, signals some stability

On a month-on-month (MoM) basis, POL products’ offtake witnessed an increase of 2% during August, as compared to 1.2 million tons in July.

MoM jump in OMC sales come “amid fall in the price of petroleum products,” said AHL.

During the first two months of FY25, sales of total petroleum products dropped by 12% YoY to 2.41 million tons compared to 2.76 million tons in the same period last year.

Product-wise data showed a decline in all categories; the offtake of MS, HSD and FO settled at 1.22 million tons, 0.92 million tons and 0.14 million tons, respectively, reflecting a decline of 8%, 12% and 46%.

Company-wise, PSO’s offtake depicted a decrease of 27% YoY in August 2024, clocking in at 0.53 million tons.

On the other hand, sales of Attock Petroleum Limited (APL) and Shell Petroleum Limited (SHEL) decreased by 24% and 6% YoY, respectively, amid a fall in sales of all products.

However, Hascol sales witnessed an increase of 18% YoY.

Comments

200 characters
Builder Sep 03, 2024 02:44pm
Expect more of it as people transition from generators to solar and batteries.
thumb_up Recommended (0) reply Reply
ali Sep 03, 2024 04:00pm
as soon cheap EVs come into market everyone will switch. almost every one that owns a home is switching to solar . adding solar panel is cheap .
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Aam Aadmi Sep 03, 2024 08:43pm
Mor products should be imported from Iran to teach the local producers a lesson. Iranian products are good quality and cheaper. Our people produce mostly trash at high price. Let them compete.
thumb_up Recommended (0) reply Reply
Sagar Baloch Sep 03, 2024 09:27pm
3 causes of sales Decline:1)over taxing,2)shutting down of industries or switching to other sources,3)illegal smuggling of fuel.
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