KARACHI: Sales of petroleum products reached 1.52 million tonnes in January 2026, up 10 per cent year-on-year (YoY) and 12 percent month-on-month.
“The year-on-year (YoY) increase reflects economic recovery, easing inflation and improved control over smuggling, while the month-on-month rise was driven by lower petrol and diesel prices in January 2026 and a low base following the nationwide strike in December 2025 that disrupted sales for around 10 days,” noted Myesha Sohail, analyst at Topline Securities.
During the first seven months of this fiscal year, total oil sales amounted to 9.7 million tonnes, reflecting a 3.0 per cent YoY increase compared with 9.4 million tonnes in the same period last fiscal year.
Excluding furnace oil (FO), sales in January 2026 stood at 1.41 million tonnes, up 7.0 per cent YoY and 9.0 per cent month-on-month (MoM). For July-January FY26, ex-FO sales totalled 9.41 million tonnes, a 5.0 per cent YoY rise.
In January 2026, motor spirit (MS) prices decreased by 4.0 per cent MoM to an average of Rs253.17 per litre from Rs263.45 per litre in December 2025, while high-speed diesel (HSD) prices declined by 6.0 per cent month-on-month to Rs257.08 per litre from Rs272.65 per litre in December 2025.
MS sales rose by 3.0 per cent YoY and 2.0 per cent MoM to 641,000 tonnes in January 2026, while HSD sales increased by 11 per cent YoY and 20 per cent MoM to 664,000 tonnes.FO sales in January 2026 jumped 76 per cent both YoY and MoM to 102,000 tonnes, the highest level in seven months.
Among listed entities, Attock Petroleum (APL) recorded sales of 134,000 tonnes in January 2026, up 2.0 per cent YoY and 31 per cent MoM, mainly due to higher FO sales. APL’s market share stood at 9.01 per cent for HSD and 8.39 per cent for MS in January 2026, up 36 basis points and 67 basis points, respectively.
Pakistan State Oil (PSO) sales rose 6.0 per cent YoY and 17 per cent MoM in January 2026 to 626,000 tonnes. In January, PSO’s market share in MS and HSD stood at 37.88 per cent and 42.75 per cent, reflecting MoM increases of 124 basis points and 258 basis points, respectively.
Wafi Energy Pakistan Limited (WAFI) recorded sales of 122,000 tonnes in January 2026, up 20 percent year-on-year and 17 percent month-on-month, while HASCOL’s sales reached 49,000 tonnes, down 3 percent year-on-year but up 5 percent month-on-month.
Myesha forecast that oil sales in FY26 would grow in the range of 7–10 percent.The government has set a petroleum development levy (PDL) collection target of Rs1.47 trillion for FY26, of which Rs871 billion (59 per cent) had been collected in the first seven months of FY26, she said.
