Rising demand of fuel led to 3pc sales increase in September

0
67

Karachi: POL oil sales have gone up by 3pc to touch 2.16m tons during September this year due to rising demand of the commodity, as per provisional data released on Wednesday.

According to brokerage houses sales of petrol registered 10.6pc increase to touch 0.63m ton during September compared to 0.57m tons in same period last year (SPLY), reported a local newspaper.

Sale of furnace oil dipped 6.7pc to touch 0.77m tons during September compared to 0.82m tons in SPLY. High-Speed diesel (HSD) sales were up by 7.6pc to touch 0.67m tons.

Taurus Securities commented “Furnace oil volumes dipped…likely due to lower furnace oil-based (power) generation as gas-based generation comes online amid availability of LNG (liquefied natural gas).”

Pakistan State Oil (PSO) consolidated its position as the market leader due to its market share rising to 57.57pc in September compared to 55.34pc in SPLY.

Hascol overtook Shell to become the second largest oil marketing company in Pakistan by increasing its market share to 10.31pc in September compared to 8.62pc in SPLY.

Shell Pakistan slipped to fourth position as its market share fell to 5.51pc in September from 9.97pc a year ago. Attock Petroleum gained one position to reach third place, as its market share slightly fell to 7.87pc in September 2017 from 8.10pc in SPLY.