AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

Momentum for oil sales boom has been building for some time and FY22 has started off on a high note for the oil marketing companies. Petroleum consumption in the country is rising continuously and August 2021 volumes for sales made by the OMCs depict the continuation of the upsurge. While it was thought that August sales will be dented due to new Covid restrictions in the country as Delta variant spread, volumes continued to surge.

Despite a month-on-month decline of 9 percent for Motor Gasoline, petrol sales continue to touch record high levels. Petrol sales in August 2021 increased by 6 percent year-on-year. Contribution from High-Speed Diesel also supported the overall petroleum despite witnessing a month-on-month decline of around 7 percent. HSD sales increased by 32 percent year-on-year in August 2021. Furnace oil has been a recent growth driver of petroleum sales; FO sales in August 2021 were up by 38 and 63 percent, month-on-month, and year-on-year respectively. Overall, petroleum consumption stood at 1.96 million tons in August 2021, up by 26 percent year-on-year.

Overall petroleum sales in 2MFY22 were seen climbing by 21 percent where most of the growth was attributable to double digit growth seen in furnace oil and diesel. Petrol sales have been on an upward trajectory too. The reasons for spiking petroleum consumption includes the skyrocketing car and automobile sales, two-wheeler sales, as well as increased industrial activity, LSM and exports; rise in domestic tourism; and restriction on Iranian petrol, all of which are pushing up petrol sales. In addition, kharif crop season; and higher demand from FO based power plants due to rising LNG prices are also pushing up petroleum sales.

Comments

Comments are closed.