Sale of total petroleum products in Pakistan clocked in at 1.27 million tons in September, an increase of 20% on a year-on-year basis.
“The jump in sales comes on the back of higher demand amid decline in MS and HSD prices by 20.19% and 20.06% YoY, respectively,” said brokerage house Arif Habib Limited (AHL) in a note.
The offtake of petrol increased by 22% YoY in September 2024, settling at 0.63 million tons, compared to 0.52 million tons in the same month last year.
Similarly, high-speed diesel (HSD) dispatches jumped by 25% YoY to 0.49 million tons in September 2024.
Sale of petroleum products plunges 14% in August amid smuggling from Iran
On the other hand, Furnace Oil (FO) sale volumes reduced by 18% YoY, reaching 0.07 million tons, as due to lower demand for FO-based power generation, as compared to 0.08 million tons in SPLY.
On a month-on-month (MoM) basis, POL products’ offtake witnessed an increase of 5% during September, as compared to 1.22 million tons in August.
The MoM increase is “owing to lower demand in Aug’24 due to higher rainfall,” said AHL.
During 1QFY25, total sales of petroleum products decreased by 3% YoY to 3.68 million tons vis-à-vis 3.81 million tons in SPLY.
Product-wise data shows a decline in HSD and FO, while sales of MS remained stable; the volumetric sales of petrol, HSD, and FO clocked in at 1.85 million tons, 1.42 million tons, and 0.21 million tons, respectively.
Company-wise, PSO’s offtake climbed by 8% YoY in September 2024, clocking in at 0.55 million tons.
Similarly, the offtake of HASCOL and Shell Petroleum swelled up by 76% and 17% YoY, respectively. Whereas, dispatches of Attock Petroleum Limited (APL) declined by 8% YoY during September 2024.
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