Karachi July 1 2022: Sales of petroleum products decrease by 11 percent to 1.936 million tons during the month of June 2022 when compared with the sales of the previous month, as per data of OCAC.
The significant decrease in sales is recorded due to increase in mammoth increase in petroleum prices from government in order to meet IMF conditionality.
During the month of June, government has increased price of Petrol by PKR 68.88 per liter to PKR 248.74 per liter and price of Diesel increased by PKR 102.39 per liter to PKR 276.54 per liter.
Sales of Motor Spirit (MS) during June 2022 decreased by 12 percent to 702 thousand tons compared to 797 thousand tons during May 2022. On year on year basis, the sales of MS also decreased by 10 percent.
Sales of High Speed Diesel (HSD) during June 2022 decreased by 16 percent to 0.71 million tons compared to 0.84 million tons during May 2022. On year on year basis, the sales of HSD decreased by 8 percent.
During the month of June 2022, sales of Furnace Oil decreased by 2 percent to 0.45 million tons compared to sales of 0.46 million tons during May 2022. However, on year on year basis sales of Furnace oil increased by 33 percent.
During Fiscal Year 2022, which starts from July and ends in June, the MS sales has been witnessed at 8.9 million tons compared to 8.21 million tons during same period last year. Sales of MS has increased by 9 percent during the year. The rise in sales is witnessed due to higher demand on the back of increased sales of auto mobiles in the country.
Same trend has been witnessed in the sale of High Speed Diesel (HSD), which were increased by 15 percent during the Fiscal Year 2022 as the HSD sales has been recorded at 8.8 million tons compared to 7.6 million tons during same period last year. The rise in sales is witnessed due to higher demand on the back of increased sales of auto mobiles and higher power generation on HSD amid better economic activity.
Sales of Furnace oil (FO) also increased by 35 percent during the Fiscal Year 2022 with sales of 4.0 million tons compared to 3.0 million tons during same period last year. The rise in sales is witnessed due to higher power generation on FO.
Overall petroleum product sales during the Fiscal Year 2022 has been increased at 16 percent to 22.5 million tons compared to 19.4 million tons in Fiscal Year 2021.
