KARACHI/ISLAMABAD: Pakistan imported 13.88 million metric tonnes (MMT) of petroleum products during July-March of the current fiscal year, up from 12.53 MMT in the same period of FY2025, marking a 10.8 per cent increase in volume, according to the Economic Survey 2025-26 released on Thursday.
In value terms, the import bill rose to $8.9 billion from $8.4 billion a year earlier, reflecting higher volumes as well as volatility in international oil prices. Imports of motor spirit (MS) increased by 2.3 per cent to 4.07 MMT, although their value declined by 2.4 per cent to $2.96 billion compared with $3.03 billion in the corresponding period last year.
The divergence indicates softer global prices in the first half of FY2026 despite rising transport demand. Imports of high-octane blended components (HOBC) rose sharply from 144.44 thousand tonnes to 187.48 thousand tonnes, with value increasing from $108.4 million to $138.3 million, suggesting growing demand for premium fuels.
Imports of high-speed diesel (HSD) fell 26.1 per cent to 1,069.8 thousand tonnes from 1,447.54 thousand tonnes, with the import bill declining to $0.74 billion amid weaker pricing trends in global markets.
Crude oil imports increased 24.9 per cent to 8,448.79 thousand tonnes, with value rising 21.9 per cent to $5 billion, reflecting higher domestic economic activity. Aviation gasoline (100/LL) imports stood at 0.24 thousand tonnes during the period, while jet fuel (JP-1) imports declined to 108.71 thousand tonnes from 195.67 thousand tonnes, with value falling to US$75.8 million.
Overall consumption of petroleum products rose 3.5 per cent to 13.64 MMT from 13.17 MMT a year earlier. The transport sector remained the largest consumer, increasing 6.7 per cent to 11.25 MMT, accounting for 82.5 per cent of total demand, driven by higher mobility and logistics activity.
In contrast, industrial consumption fell 42.6 per cent to 433.5 thousand tonnes, likely reflecting fuel switching to cheaper alternatives such as natural gas and renewables. The power sector’s petroleum use declined 15 per cent to 98.7 thousand tonnes, as generation shifted towards hydropower, nuclear and coal.
Domestic consumption dropped 51.4 per cent, while agricultural use fell 61.7 per cent, reflecting greater mechanisation and wider adoption of solar-powered tube wells. Government sector usage declined 6.3 per cent during the period.
Petroleum product exports surged 37.5 per cent to $586 million during July-March FY2026, driven by stronger global demand, improved domestic refining capacity, and competitive pricing, according to the Economic Survey 2025-26.
Although petroleum products accounted for a modest 2.58 per cent share of total exports, the sector emerged as one of the strongest-performing export categories during the period under review. In volume terms, petroleum product exports recorded an even stronger increase of 54.3 per cent, reflecting robust demand in international markets and higher exportable surpluses from domestic refineries.
The survey noted that the sector’s impressive growth underscores its potential to contribute to Pakistan’s export diversification efforts and reduce reliance on traditional export sectors.The broader trade picture, however, remained mixed. On the export side, overall performance was weighed down primarily by lower food exports, particularly rice, while textile exports remained largely stable and other manufacturing sectors provided some support.
