- PSO’s sales remained flat in Q1, APL saw a 1% dip, while smaller OMCs like WAFI and GO posted significant growth of 31% and 6%, respectively.
Pakistan’s petroleum product sales saw a 6% increase in the first quarter (July-September) of the current financial year, with a notable surge in High-Speed Diesel (HSD) sales and continued growth in petrol sales, according to industry data.
Total oil sales for the July-September period reached 3.89 million tonnes, up from 3.68 million tonnes during the same period last year. The increase was primarily driven by a 20% year-on-year (YoY) growth in HSD sales, which totaled approximately 592,000 tonnes, as well as an 8% YoY growth in petrol (Motor Spirit, MS) sales, which reached around 683,000 tonnes.
In September alone, total petroleum products sales rose 8% year-on-year (YoY) and 5% month-on-month (MoM) to 1.37 million tonnes. This growth was mainly driven by a 20% YoY and 13% MoM increase in High-Speed Diesel (HSD) sales, which reached approximately 592,000 tonnes in the month under review.
Motor Spirit (MS) sales saw an 8% YoY growth in September, despite the challenges posed by widespread flooding in Punjab, although sales remained broadly flat on a MoM basis.
According to IMS Research, smaller Oil Marketing Companies (OMCs) outperformed the industry, with companies like CYNERGY (BYCO), GO, and others recording 12%, 6%, and 6% MoM growth in petrol sales, respectively.
HSD, which saw a 13% MoM increase, posted strong growth with smaller OMCs such as WAFI and GO outperforming the industry, registering 26% and 20% MoM growth, respectively. This was bolstered by the government’s crackdown on fuel smuggling and stronger agricultural demand during the Kharif harvesting season.
Furnace Oil (FO) sales, however, saw a sharp decline, dropping 81% YoY and 29% MoM to just 13,000 tonnes in September 2025. The decline was largely due to the shift away from Residual Fuel Oil (RFO)-based power generation and further exacerbated by the imposition of a petroleum levy on FO, which made it less competitive in the market.
Pakistan State Oil (PSO), the country’s largest oil marketer, saw flat sales in the first quarter, though its August volumes rose by 4%. PSO’s market share in the white oil segment dropped slightly to 40%, largely due to a sharp 86% decline in FO sales.
Attock Petroleum Limited (APL) also experienced a slight 1% dip in sales for the quarter, but its August volumes rose by 3%. APL’s FO sales dropped 73%, while HSD and petrol sales rose by 12% and 3%, respectively.
Smaller OMCs like WAFI and GO saw substantial growth, with WAFI’s sales jumping 31% in the first quarter and 9% in August. GO’s sales grew by 6% in the first quarter, and 3% in August.
Despite challenges posed by flooding in parts of Punjab and Sindh, the overall demand for petroleum products remained strong due to resilient automobile sales, improving industrial activity, and continued government action against smuggled fuel.
According to the brokerage report, the sector is expected to continue its growth trajectory as seasonal demand increases with the upcoming Rabi sowing season.
