Oil marketing companies (OMCs) in Pakistan reported sales of 1.28 million tons in December 2024, reflecting a 3% year-on-year (YoY) increase but a significant 19% decline compared to November, according to the latest data. The month-on-month (MoM) drop highlights seasonal variations.
During the first half of fiscal year 2024-25 (1HFY25), total OMC sales reached 8.03 million tons, marking a 4% YoY increase. The recovery is attributed to a government crackdown on smuggled Iranian fuel and notable reductions in petrol and diesel prices.Â
November 2024 witnessed petroleum sales surge to a 25-month high at 1.58 million tons, largely driven by these factors.
For calendar year 2024 (CY24), total petroleum sales stood at 15.62 million tons, showing a modest 2% YoY growth despite challenges including fluctuating oil prices, macroeconomic uncertainties, and policy shifts.
Fuel-specific trends painted a mixed picture. Motor spirit (MS), or petrol, recorded December sales of 0.57 million tons, down 15% MoM but relatively flat YoY with a marginal 1% dip. For 1HFY25, MS sales climbed 5% YoY to 3.75 million tons.
High-speed diesel (HSD) showed strong YoY growth in December, increasing 12% to 0.57 million tons, though it posted a 27% MoM decline. Cumulatively, HSD sales rose 10% YoY in the half-year period to 3.46 million tons.
Conversely, furnace oil sales continued their downward trend. December volumes dropped by 48% YoY and 12% MoM to 0.04 million tons. For 1HFY25, furnace oil demand plummeted by 38% YoY, indicating a shift away from the fuel in the energy mix.
Among individual companies, Pakistan State Oil (PSO) reported December sales of 0.57 million tons, down 28% MoM but up 4% YoY. However, its 1HFY25 sales declined by 4% YoY to 3.69 million tons. Attock Petroleum Limited (APL) recorded a 14% decline in December sales both YoY and MoM, with total 1HFY25 sales falling 11% YoY to 0.69 million tons.
The mixed performance underscores evolving market dynamics, with seasonal trends, regulatory measures, and fuel preferences shaping sales patterns across the sector.
