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Sale of total petroleum products in Pakistan clocked in at 1.17 million tons in April 2023, a decline of over 46% year-on-year, amid economic slowdown and rise in prices.

The decline in sales “is majorly attributable to higher petroleum prices, economic slowdown, an increase in smuggled petroleum products from Iran, and lower furnace oil (FO)-based power generation”, said Arif Habib Limited (AHL) in a note.

FO sales nosedived by 83% YoY in April 2023, amounting to 0.07 million tons.

Sale of MS (petrol) fell 24% YoY, clocking in at 0.58 million tons in April. Volume of High-Speed Diesel (HSD) plunged by 50% YoY, settling at 0.46 million in April 2023.

However, on a month-on-month basis, POL products offtake witnessed an increase of 6% during April.

Volumes of MS inched up by 4%, whereas HSD offtake increased by 16%. The monthly rise comes on account of the “ongoing harvesting season resulting in higher HSD demand, and absence of heavy rainfall across the country,” said AHL.

Meanwhile, FO sales registered a decline of 16% MoM.

Sales of petroleum products plunge 39% year-on-year in March

During the first ten months of FY23, sales of total petroleum products dropped by 24% YoY to 13.97 million tons compared to 18.44 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 6.17 million tons, 5.28 million tons and 1.87 million tons, respectively.

Company-wise, PSO’s offtake depicted a drop of 53% YoY in April 2023, which was majorly contributed by a decrease in sales of FO by 98% YoY, while MS sales registered a decline of 22% YoY. HSD sales of PSO also plunged 52% YoY.

Similarly, sales of Attock Petroleum Limited (APL) and Shell Pakistan Limited (SHEL) decreased by 31% and 43% YoY, respectively, due to a fall in sales of all products.

However, Hascol Petroleum Limited (HASCOL) sales witnessed an increase of 308% YoY.

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Tulukan Mairandi May 03, 2023 01:59pm
Large quantity of the petroleum sold is use to burn one's self (commit suicide) due to unbearable situation in Pakistan
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Shahbaz Ali May 03, 2023 03:53pm
Lower fuel usage is better for forex preservation. It results in lower road congestion and less pollution. There will be GDP growth in spite of low fuel consumption which means a lot of fuel was wasted. People were travelling without any real reason to other cities en-masse. Funerals attracted thousands of people travelling across Pakistan wasting a lot of fuel.
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Abdullah May 03, 2023 07:35pm
can we start charging the cars that consume more petrol .This way teh rich will pay more.A 5.7 litre engine land cruiseer needs to pay more than the one who drives mehran as the earlier one is driving for luxury not for need
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Dr. Hafeez Ullah Shah Dy. General Manager Alternative Fuels (Ex) D. G. Khan Cement Plant May 03, 2023 09:40pm
The incease in consumption of petrol witnessed in the month of April 2023 seems to be the results of excessive personnel cars on roads for celibration of Eid by majority of peoples in their native towns. The reduction in overall consumption in petrol shows inability of majority of peoples to use their own vehicles for travelling. This is a serious challenge to PDM govt and is not going to bring any benefit in coming elections to them.
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