KARACHI: The sales of petroleum products in the country increased by 3.0 percent on year-on-year basis to 1.28 million tons in December 2024, mainly due to lower petroleum product prices, macroeconomic stabilization and a decline in smuggling, experts said.
Total sales for the first half of FY25 have increased by 4.0 percent YoY at 8.0 million tons as compared to 7.7 million tons in the same period in FY24.
Excluding Furnace Oil (FO) sales in December 2024 were 1.2 million tons, reflecting a 7.0 percent YoY rise while a 20 percent MoM decline. For the first half of FY25, Ex-FO sales totaled 7.7 million tons, an 8.0 percent YoY rise.
Motor Spirit (MS) sales saw a 1.0 percent YoY and 15 percent MoM decline to 566,000 tons in December 2024. This was primarily due to onset of winter season which generally reduces the economic activity on sequential basis, Myesha Sohail, an analyst at Topline Securities said.
High-Speed Diesel (HSD) sales rise 12 percent YoY while down 27 percent MoM to 573,000 tons. “The YoY growth was driven by reduced prices.”
FO sales for December 2024 fell by 48 percent YoY while up 12 percent MoM to 41,000 tons.
Among the listed entities, Attock Petroleum (APL) sales clocked in at 111,000 tons in December 2024, a 14 percent YoY and 15 percent MoM decline primarily driven by 89 percent YoY and 62 percent MoM fall in FO sales. APL has market share of 8.71 percent in MS and 9.48 percent in HSD, up 75bps and 96bps respectively from November 2024.
Pakistan State Oil (PSO) saw a fall of 4.0 percent YoY and 28 percent MoM to 572,000 tons in December 2024. PSO’s market share in HSD and MS clocked in at 45.99 percent and 40.54 percent, down 845bps and 409bps MoM, respectively in December 24. PSOs overall market share has fallen from 51 percent in November 2024 to 45 percent in December 2024 primarily led by decrease in HSD market share.
Shell Pakistan (SHEL) saw a 5.0 percent YoY rise but a 8.0 percent MoM fall to 95,000 tons. HASCOL sales clocked in at 43,000 tons, up 59 percent YoY and 25 percent MoM.
“The government has set a Petroleum Development Levy (PDL) collection target of Rs1.28 trillion for FY25 of which Rs 557 billion (43 percent) has been collected in the first half of FY25.”
Copyright Business Recorder, 2025
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