Pakistan oil sales in December 2022 decreased by 14 percent month-on-month (MoM) to around 1.34 million tons mainly due to a seasonal trend of slowdown in December, lower demand for furnace oil (FO) for power generation, and an overall slowdown in the economy.
According to Topline Securities, this is the lowest monthly sales number since the first COVID lockdown period in February-April 2020. FO, High-Speed Diesel (HSD), and petrol (MS) declined by 10 percent, 22 percent, and 8 percent, MoM, respectively.
Oil sales recorded an 11 percent year-on-year (YoY) decline in December 2022 due to a fall in all major petroleum products. According to the monthly data, MS is down 11 percent YoY, HSD is down 15 percent YoY, and FO dropped 3 percent YoY.
The YoY drop in oil sales is primarily due to higher fuel prices, the overall reduction in economic activity, and lower FO-based power generation. Among the listed entities, Pakistan State Oil (PSO) posted a decrease of 23 percent MoM and 9 percent YoY to 626,000 tons. PSO’s market share slightly improved to 47 percent in December 2022 compared to 46 percent in December 2021.
Attock Petroleum (APL) sales declined 9 percent MoM and 16 percent YoY. While, Shell Pakistan (SHEL) sales decreased by 4 percent MoM and by 18 percent YoY. APL and SHEL market share for Dec-2022 was 9 percent and 8 percent respectively compared to 10 percent and 9 percent share in December 2021.
During 1HFY23, oil sales are down 19 percent YoY to 9.03 million tons due to an economic slowdown with a decline visible in all major petroleum products. Higher prices of MS and HSD have also had a major impact on demand.
Product wise FO and HSD have witnessed the most major drop with a decline of 24 percent and 23 percent YoY respectively, while MS sales declined by 15 percent YoY in 1HFY23. The report expects FY23 oil sales to drop by around 20 percent YoY, mainly due to an overall slowdown in the economy. Local prices are set to remain elevated due to lower government fiscal space, which would continue to dent demand.
Sirf bike walo ki majburi Jo petrol use Kar rahe hayn.barray logon Ka burra haal he.i send my kids to pindi by train.6 hazar ana jana.phir jana wapas lana.total.12000.thats too pain full.or CNG stations Bhi band Kar diye.kpk.govt.us par takleef Nahi hoti.ke us ki sale or income govt.ko bilkul khatam.ye Bhi aik Acha tarika petrol ki sale barhane ke liye
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Drop in oil usage is good for the environment as it would lead to less Carbon dioxide and other harmful gases in environment.