KARACHI: Sales of petroleum products fell sharply by 10 per cent in November this financial year, driven by declines in high-speed diesel (HSD), petrol and furnace oil (FO).
Latest data released on Monday showed that petroleum sales also recorded a 5.0 per cent decrease in November compared to October of the current fiscal year.During the first five months of the current fiscal, overall petroleum sales remained largely flat compared with the corresponding period of the previous year.
HSD sales dropped 13 per cent in November, reaching 683,000 MT compared with 788,000 MT in the same month last year. However, over the first five months of the fiscal, HSD sales grew by four per cent to 3 million MT, up from 2.8 million MT during July-November of the previous year.
Petrol sales fell 9.0 per cent in November, totalling 608,000 MT compared with 688,000 MT in the same month last year. For the first five months, petrol sales were two per cent higher at 3.2 million MT, up from 3.1 million MT in the corresponding period last year.
FO sales plunged 32 per cent in November compared with the same month last year and declined 67 per cent during July-November of the current fiscal relative to the corresponding period last year.
Company-wise, Pakistan State Oil (PSO) recorded a 19 per cent drop in petroleum product sales in November, with three major products showing substantial declines. Its sales for July-November were down 7.0 per cent.
Attock Petroleum Limited (APL) reported a 17 per cent fall in November sales, while its sales declined four per cent over the first five months of the fiscal. Hascol recorded a two per cent decline in November, whereas Wafi’s sales rose eight per cent and Cnergy’s increased nine per cent during the month.
In November, PSO held a 45.4 per cent share of total petroleum product sales, followed by Gas & Oil (GO) with 10.7 per cent. Wafi, APL and Hascol accounted for 7.9 per cent, 7.7 per cent and 2.4 per cent of total sales, respectively.
