Islamabad, Oct 2: Petroleum Sales Surge 20% in September. Petroleum sales in the country reached 1.27 million tons in September 2024, reflecting a 20% year-on-year increase.
This surge in sales is attributed to higher demand, coinciding with a decline in prices for Motor Spirit (MS) and High-Speed Diesel (HSD) by 20.19% and 20.06% year-on-year, respectively.
The offtake of MS rose by 22% year-on-year to 0.63 million tons, while HSD dispatches grew by 25% year-on-year to 0.49 million tons. In contrast, Fuel Oil (FO) sales decreased by 18% year-on-year, dropping to 0.07 million tons due to reduced demand for FO-based power generation.
On a month-on-month basis, petroleum sales saw a 5% increase in September 2024, rebounding from lower demand in August 2024, which was affected by higher rainfall. MS sales improved by 2% month-on-month, and HSD offtake increased by 8% month-on-month.
FO dispatches also rose by 7% month-on-month in September 2024. In the first quarter of FY25, total petroleum product sales fell by 3% year-on-year to 3.68 million tons, compared to 3.81 million tons in the same period last year.
Product-wise data indicates a decline in HSD and FO sales, while MS sales remained stable, with volumetric sales recorded at 1.85 million tons for MS, 1.42 million tons for HSD, and 0.21 million tons for FO.
Company-Wise Sales
On a company basis, Pakistan State Oil (PSO) experienced an 8% year-on-year increase in sales, totaling 0.55 million tons in September 2024. PSO’s offtake for MS, HSD, and FO grew by 8%, 6%, and 17% year-on-year, respectively.
Similarly, HASCOL and SHEL reported significant increases, with sales rising by 76% and 17% year-on-year, respectively, while APL’s dispatches fell by 8% year-on-year during September 2024.
In the first quarter of FY25, petroleum sales for PSO and APL declined by 15% and 19% year-on-year, respectively, while SHEL’s sales remained steady at 0.27 million tons. HASCOL stood out with a remarkable 19% year-on-year growth in offtake.
During the first quarter of FY25, PSO’s market share dropped significantly by 6.11% to 44.0% compared to 50.2% in FY24.
APL also saw a decline, with its market share decreasing by 1.7% to 9.0% year-on-year. In contrast, SHEL and HASCOL increased their market shares to 7.4% (up from 7.1% last year) and 3.3% (up from 2.7% last year), respectively. Additionally, the market share of other Oil Marketing Companies (OMCs) surged by 6.9%, reaching 36.3% in FY25.
