Pakistan’s Oil Marketing Companies (OMCs) recorded a 10% year-on-year (YoY) sales growth in May 2025, reaching a total of 1.53 million tons, marking a 5% month-on-month (MoM) increase as well.
This rise in sales was attributed to a combination of factors, including lower petrol and diesel prices, a seasonal spike in demand for High-Speed Diesel (HSD) due to wheat harvesting, reduced smuggling, and improved economic activity, according to brokerage firm AKD Securities.
For the first 11 months of fiscal year 2025 (11MFY25), total sales amounted to 14.76 million tons, reflecting a 7% YoY increase compared to 13.83 million tons in the same period of the previous fiscal year.
Excluding Furnace Oil (FO), OMC sales reached 1.45 million tons in May 2025, a 10% YoY and 6% MoM increase. For the 11MFY25 period, Ex-FO sales totaled 14.08 million tons, marking a 9% YoY rise.
Product-wise, Motor Spirit (MS) sales saw a 15% YoY and 6% MoM rise to reach 700,000 tons in May 2025. Similarly, HSD sales increased by 5% YoY and 8% MoM to 672,000 tons. However, FO sales saw a 16% YoY rise but a 5% MoM decline, reaching 80,000 tons in May 2025.
In terms of market share, Attock Petroleum (APL) recorded sales of 137,000 tons in May 2025, marking a 2% YoY decrease but a 9% MoM increase, primarily driven by a 30% MoM rise in HSD sales. APL’s market share in MS and HSD stood at 8.23% and 9.54%, showing a decline in MS market share by 3 basis points (bps) but an increase in HSD market share by 161 bps.
Pakistan State Oil (PSO) saw a 3% YoY decrease in sales, but a 3% MoM rise, with a total of 642,000 tons in May 2025. PSO’s market share in HSD and MS stood at 44.21% and 40.47%, marking a decrease of 32 bps and 99 bps MoM, respectively.
Overall, PSO’s market share fell from 42.78% in April 2025 to 41.91% in May 2025, primarily due to a decrease in MS market share.
Other players in the market, such as Wafi Energy Pakistan Limited (WAFI) and HASCOL, also reported strong performances. WAFI’s sales reached 123,000 tons in May 2025, marking a 23% YoY and MoM increase, while HASCOL recorded sales of 54,000 tons, up 31% YoY and 13% MoM, reaching a two-year high.
The government has set a Petroleum Development Levy (PDL) collection target of Rs1.28 trillion for FY25, of which an estimated Rs1.08 billion (84%) has been collected during the 11MFY25 period.
Another brokerage firm warned that volumetric sales could face pressure in the coming months as the seasonal boost from the Kharif season fades and summer school holidays reduce overall mobility. Furthermore, the government’s reported plan to increase the petroleum levy to PKR 100 per litre in the upcoming budget may lead to higher fuel prices, potentially suppressing demand further.
