Petroleum Sales Drop 10% in November as Diesel, Petrol Demand Slumps

Sales of petroleum products in Pakistan fell sharply by 10 percent year-on-year in November, as demand for high-speed diesel (HSD), petrol, and furnace oil (FO) continued to weaken, according to industry data released Monday. The latest figures show a 5 percent decline in petroleum sales compared to October. Over the first five months of the current fiscal year, overall petroleum sales remained largely flat versus the same period last year. HSD sales dropped 13 percent in November to 683,000 metric tons (MT), down from 788,000 MT a year earlier. Despite the monthly decline, HSD sales for July-November rose 4 percent to 3 million MT, compared to 2.8 million MT in the same period last year. Petrol sales fell 9 percent in November, totaling 608,000 MT versus 688,000 MT in November 2024. For the five-month period, petrol sales edged up 2 percent to 3.2 million MT. Furnace oil sales plunged 32 percent in November year-on-year and tumbled 67 percent over the July-November period compared to the previous year. Among major companies, Pakistan State Oil (PSO) posted a 19 percent drop in November sales, with all three major products showing substantial declines. PSO’s sales for July-November were down 7 percent. Attock Petroleum Limited (APL) reported a 17 percent fall in November sales and a 4 percent decline for the five-month period. Hascol’s sales slipped 2 percent in November, while Wafi and Cnergy posted gains of 8 percent and 9 percent, respectively. In November, PSO held a 45.4 percent share of total petroleum product sales, followed by Gas & Oil (GO) at 10.7 percent. Wafi, APL, and Hascol accounted for 7.9 percent, 7.7 percent, and 2.4 percent of the market, respectively.