KARACHI: Petroleum sales in Pakistan declined 7% year-on-year to 1.36 million tonnes in April from 1.45 million tonnes in the same month last fiscal year, as higher fuel prices continued to weigh on demand.
Oil product sales also fell 6% month-on-month. Excluding furnace oil, the decline was steeper, with volumes dropping 11% year-on-year and 10% month-on-month to 1.22 million tonnes, according to data released on Monday.
The drop was largely attributed to a sharp increase in domestic fuel prices following higher international oil prices. The average price of motor spirit rose 54% year-on-year to Rs392.64 per litre, while high-speed diesel increased 67% to Rs431.97 per litre despite the removal of the levy on HSD.
HSD sales declined by 12% YoY in April, primarily due to elevated prices and lower tractor sales. MS volumes also dropped by 7.0% under similar pressures. In contrast, FO sales rose by 63% YoY, supported by higher power generation demand and increased reliance on FO-based plants amid disruptions in re-gasified liquefied natural gas (RLNG) supplies.
On a monthly basis, MS offtake fell by 8.0% to 0.61 million tonnes, while HSD sales decreased by 7.0% to 0.55 million tonnes. FO sales, however, rose by 56% MoM, indicating greater dependence on furnace oil for electricity generation.
Despite the monthly decline, cumulative petroleum sales during the first 10 months of FY2026 increased by 4.0% YoY to 13.76 million tonnes, compared with 13.22 million tonnes in the same period last year. Excluding FO, sales rose by 5.0% to 13.23 million tonnes. Product-wise, MS, HSD and FO volumes stood at 6.41 million tonnes, 5.90 million tonnes and 0.53 million tonnes, respectively.
Among oil marketing companies, Pakistan State Oil (PSO) reported a 5.0% YoY decline in sales to 0.59 million tonnes in April. MS and HSD offtake fell by 10% and 9.0%, respectively, while FO sales increased sharply during the month.
During the first 10 months of FY2026, PSO’s market share declined to 42.4% from 44.5% a year earlier. In contrast, Gas & Oil Pakistan Ltd (GO) increased its share to 12% from 10.2%. Attock Petroleum Limited (APL) recorded a 6.0% YoY decline in offtake to 0.12 million tonnes, with its market share easing to 8.2%.
Wafi Energy Pakistan (formerly Shell Pakistan) maintained stable volumes, with its market share improving slightly to 8.0%. Meanwhile, Hascol Petroleum recorded a 26% YoY decline in sales, with its market share slipping to 3.1%. Petroleum levy collection during July-April FY2026 reached approximately Rs1.28 trillion.
