The Oil Marketing Companies (OMCs) sales volumes continue to witness double-digit growth registering 12 percent Year on Year (YoY) growth in January 2021.

As per the report released by Ismail Iqbal Securities, retail volume increased by 9pc YoY while Residual Fuel Oil (RFO) jack up by 34pc. Whereas, retail fuels, High Speed Diesel (HSD) has registered a 14% YoY growth.

“We attribute continues uptick in HSD to government efforts in curbing HSD smuggling along with resumption of economic activities. Up till now, FBR has sealed 1556 retail outlets across the country from 2094 illegal retail outlets,” stated the report.

Mogas has also registered decent 4pc YoY growth, while furnace oil sales continue to increase on the back of LNG curtailments to the power sector in the ongoing winter season.

On Month on Month (MoM) basis, PSO market share in retail fuels drop to 42pc due to 2pc drop in HSD and Mogas market share, revealed the report. Attock Petroleum Limited (APL) made significant gains in HSD and Mogas share where company was able to record 8pc market share in retail fuel.

Furthermore, Shel continues to maintain a stable market share and recorded 9pc and 11pc market share in HSD and Mogas, respectively. Whereas, HUSCOL successfully retained its retail fuels market share due to a modest increase in HSD market share by 0.5pc.