KARACHI: The sale of petroleum products in Pakistan grew by 5.0 per cent year-on-year (YoY) in March 2025, driven by higher demand during Eid and related economic activities.
Total sales reached 1.22 million tonnes during the month, with high speed diesel (HSD) volumes rising 5.0 per cent YoY to 0.49 million tonnes from 0.43 million tonnes in March last year. The increase was supported by stronger demand following a 9.7 per cent YoY decline in HSD prices.
Meanwhile, motor spirit (MS) dispatches inched up by 1.0 per cent YoY, clocking in at 0.58 million tonnes, as MS prices fell by 8.6 per cent over the year. Furnace oil (FO) sales also saw a notable 22 per cent YoY increase, reaching 0.05 million tonnes.
“The YoY growth in sales is attributable to higher demand driven by increased intercity travel during Eid holidays, a seasonal boost in economic activity during Eid and Ramazan, a decline in petroleum prices encouraging consumption, curbs on smuggled petroleum from Iran, and a rise in automobile sales,” stated Arif Habib Limited (AHL) in its research report.
On a month-on-month (MoM) basis, petroleum sales rose 7.0 per cent in March, supported by increased travel during the festive season, the greater number of days in March compared to February, lower MS and HSD prices, and a higher reliance on FO-based power generation.
In March, MoM offtake of MS, HSD and FO increased by 4.0 per cent, 14 per cent and 2.0 per cent, respectively.
Cumulatively, petroleum product sales during the first nine months of the fiscal year rose 4.0 per cent YoY to 11.76 million tonnes, compared to 11.34 million tonnes in the same period of the previous year. Product-wise, sales of MS, HSD and FO all recorded growth. Volumes stood at 5.5 million tonnes for MS, 4.98 million tonnes for HSD, and 0.51 million tonnes for FO.
However, the sales of Pakistan State Oil (PSO) declined by 14 per cent YoY in March, falling to 0.51 million tonnes. PSO’s offtake of MS, HSD, and FO fell by 21 per cent, 12 per cent, and 27 per cent YoY, respectively.
In contrast, Attock Petroleum Limited (APL) recorded a 2.0 per cent YoY improvement in sales, reaching 0.11 million tonnes. For the first nine months, sales of PSO and APL declined by 7.0 per cent and 10 per cent YoY, respectively.
PSO’s market share during the nine-month period declined significantly by five percentage points to 45 per cent from 50 per cent a year earlier. APL’s share also dropped by 1 percentage point to 9.0 per cent. Gas and Oil Pakistan Ltd (GO), on the other hand, recorded a sharp increase in market share to 10 percent in the period under review, compared to just 3.0 per cent in the same period of the previous year.
Meanwhile, the market share of other oil marketing companies (OMCs) fell by 1 percentage point to 26 per cent.
Petroleum development levy (PDL) collection stood at Rs819 billion during July-March of the fiscal year.