KARACHI: Petroleum sales witnessed a record low due to constant increases in prices, lower furnace oil-based power generation, and availability of smuggled oil from Iran. During September 2023, the sales went down to 1.06 million tons – the lowest in 44 months.
According to Topline Research, sales of petroleum products declined to the lowest level since March 2020. Petrol sales declined by 23 per cent month-on-and diesel by 28 per cent on a Month-on-Month basis.
Since the Covid-19 lockdown, High-speed diesel (HSD) sales fell 24 per cent Year-on-Year and 28 per cent MoM. Petrol sales dropped 18 per cent YoY. Furnace oil sales fell to 84,000 tons which means a decline of 72 per cent YoY and 28 per cent MoM.
In September, Pakistan State Oil (PSO) recorded a decline in sales by 37 per cent YoY and 30 per cent MoM. Majorly the furnace oil sales nosedived by 94 per cent YoY and 61 per cent MoM. Similarly, petroleum sales of Shell Pakistan decreased to 80,000 tons – a reduction of 30 per cent YoY and 18 per cent MoM. Meanwhile, Attock Petroleum‘s sales dropped to 123,000 tons.
