KARACHI: Pakistan’s overall oil sales recorded a sharp decline in November, slipping 10 per cent year-on-year and 5 per cent month-on-month to 1.418 million tonnes. The drop reflects weakened consumer demand and price pressures across key fuel categories.
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However, cumulative sales for the first five months of FY26 showed a marginal improvement of 1 per cent, rising to 6.808 million tonnes from 6.753m tonnes a year earlier, according to AKD Securities, citing Oil Companies Advisory Council (OCAC) data.
High-speed diesel (HSD) sales remained unexpectedly subdued during November despite the kharif harvesting season and a post-flood economic recovery that typically boosts freight movement.
CHART OF THE DAY: On a monthly average basis, Brent crude hit a 4½-year low in November (it changed hands at an average of $63.66 a barrel during the month, the lowest monthly average since February 2021) pic.twitter.com/3ZAYZbNrIo
— Javier Blas (@JavierBlas) December 1, 2025
Volumes fell 13pc year-on-year and 4pc month-on-month to 683,000 tonnes. Still, HSD demand in 5MFY26 rose 4pc to 3.019m tonnes, compared to 2.889m tonnes in the same period last year, reflecting gradual improvement in heavy vehicle sales and transport activity.
Petrol sales also posted declines during November, dropping 9pc on a yearly basis and 7pc over the previous month to 608,000 tonnes. Market watchers attribute the month-on-month dip partly to elevated petrol prices. Nonetheless, sustained demand for motorcycles and small petrol-driven vehicles supported a 2pc year-on-year rise during July–November, with total petrol sales reaching 3.236m tonnes, up from 3.185m tonnes a year ago.
The steepest contraction came in furnace oil (FO) sales, which slid 32pc year-on-year and 9pc month-on-month to just 25,000 tonnes in November. Over the five-month period, FO demand plummeted by 67pc to 100,000 tonnes, compared to 306,000 tonnes last year, underscoring the fuel’s diminishing role in power generation as the country shifts towards cheaper alternatives.
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Analysts say the weak November numbers highlight persistent demand-side pressures but note that the slight improvement in cumulative 5MFY26 sales suggests gradual stabilisation in select fuel categories.