Pakistan’s diesel imports drop to 42,000 tonnes in January 2026

Pakistan’s high-speed diesel (HSD) imports fell sharply to about 42,000 tonnes in January, down from 288,000 tonnes in December, according to oil sector data.

Industry officials attributed the decline to excess supply created in December, when imports reached a record level following demand projections by the Oil and Gas Regulatory Authority (Ogra).

Officials said a brief uptick in sales and geopolitical tensions between Iran and the United States in November led the regulator to raise import estimates. As a result, Pakistan State Oil (PSO) was directed to increase its December imports from an initially planned 110,000 tonnes in two cargoes to 220,000 tonnes in four cargoes.

In addition, a private oil marketing company was permitted to import HSD during the same period, pushing total December imports to 288,000 tonnes.

Officials said the higher volumes were not aligned with domestic requirements and resulted in oversupply in the local market. Following the buildup of stocks, Ogra decided that no HSD would be imported in January.

However, PSO later sought approval to import 45,000 tonnes alongside jet fuel, which was allowed. Actual imports in January stood at 42,000 tonnes.

According to cumulative data, total HSD imports during the first seven months of the current fiscal year reached 970,000 tonnes.

Monthly import figures show 45,000 tonnes in July, rising to 162,000 tonnes in August, before declining to 85,000 tonnes in September. Imports increased again to 144,000 tonnes in October and 205,000 tonnes in November, followed by the December peak of 288,000 tonnes and the January drop.

Oil sector officials said that if the current trend continues, total HSD imports for the fiscal year could reach around 2 million tonnes, which they termed inconsistent with domestic production levels. They said annual imports should be closer to 1.5 million tonnes, considering local refinery output of about 500,000 tonnes per month.