“The reduction comes on the back of i) availability of smuggled petroleum products from Iran, and ii) higher rainfall during the period,” said Arif Habib Limited (AHL). The offtake of petrol declined by 7% YoY in August 2024, settling at 0.62 million tons, compared to 0.67 million tons in same month last year.
Similarly, high-speed diesel (HSD) dispatches dwindled by 17% YoY to 0.46 million tons in August 2024. Meanwhile, Furnace Oil (FO) sale volumes reduced by 45% YoY, reaching 0.06 million tons, as compared to 0.12 million tons in SPLY.
On a month-on-month (MoM) basis, POL products’ offtake witnessed an increase of 2% during August, as compared to 1.2 million tons in July.
MoM jump in OMC sales come “amid fall in the price of petroleum products,” said AHL.
During the first two months of FY25, sales of total petroleum products dropped by 12% YoY to 2.41 million tons compared to 2.76 million tons in the same period last year.
Product-wise data showed a decline in all categories; the offtake of MS, HSD and FO settled at 1.22 million tons, 0.92 million tons and 0.14 million tons, respectively, reflecting a decline of 8%, 12% and 46%.
Company-wise, PSO’s offtake depicted a decrease of 27% YoY in August 2024, clocking in at 0.53 million tons.
On the other hand, sales of Attock Petroleum Limited (APL) and Shell Petroleum Limited (SHEL) decreased by 24% and 6% YoY, respectively, amid a fall in sales of all products.
However, Hascol sales witnessed an increase of 18% YoY.
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