Islamabad November 3 2024: Pakistan’s oil marketing companies (OMCs) witnessed an 18% year-over-year (YoY) rise in overall petroleum sales, reaching the highest level in 23 months, with a total volume of 1.49 million tons in October 2024 compared to 1.26 million tons in October 2023.
Prices of both Motor Spirit and High Speed Diesel are down approximately 20% year-over-year, according to data published by Pakistan Bureau of Statistics.
On month-over-month (MoM) growth was also positive, with a 17% increase compared to September 2024, where sales stood at 1.27 million tons.
In October 2024, High-speed diesel (HSD) experienced a notable 22% YoY rise, with sales climbing to 0.69 million tons compared to 0.56 million tons in October 2023, alongside an 39% MoM growth. Similarly, motor gasoline (MOGAS) recorded a strong 15% YoY increase, reaching 0.67 million tons in October 2024, up from 0.58 million tons the previous year, though MoM growth was more moderate at 5%.
During the month fuel oil (FO) sales increased by 8% year-over-year (YoY) to 0.06 million tons, up from 0.05 million tons in the same month of 2023. Despite this annual increase, there was a substantial month-over-month (MoM) decline of 34%, as sales decreased from 0.07 million tons in August 2024.
During the first months of FY2025, total petroleum sales amounted to 5.18 million tons, a slight 2% incline from 5.08 million tons in the same period last year.
In the first four months of FY2025, fuel oil (FO) sales plummeted by 33% year-over-year (YoY), falling to 0.27 million tons compared to 0.09 million tons in the same period last year.
High-speed diesel (HSD) sales showed improvement, with an increase of 5% YoY to 2.1 million tons. Motor gasoline (MOGAS) sales were also improved YoY, increasing to 2.52 million tons.
