Oil sales jump 57pc in April

Published May 4, 2021 - Updated May 4, 2021 09:22am
The country’s oil sales swelled by 57 per cent to 1.67 million tonnes in April from 1.07m tonnes in April 2020. — Reuters/File
The country’s oil sales swelled by 57 per cent to 1.67 million tonnes in April from 1.07m tonnes in April 2020. — Reuters/File

KARACHI: The country’s oil sales swelled by 57 per cent to 1.67 million tonnes in April from 1.07m tonnes in April 2020.

On a month-over-month basis, oil sales jumped 13pc from 1.49m tonnes in March.

During 10MFY21, total oil sales rose by 19pc to 15.83m tonnes from 13.34m tonnes during the same period last year.

According to Arif Habib Ltd, petrol sales during April were 54pc higher to 0.67m tonnes from 0.44m tonnes in April 2020 but sales fell 2pc from 0.69m tonnes in March.

Overall petrol sales in 10MFY21 rose by 12pc to 6.73m tonnes from 5.99m tonnes in the same period last year.

A 44pc jump was witnessed in diesel sales to 0.79m tonnes in April from 0.55m tonnes in April 2020. On month-over-month sales rose 47pc from 0.53m tonnes in March.

The July-April 2020-21 diesel sales went up by 20pc to 6.16m tonnes from 5.15m tonnes.

Rising sales of cars, SUVs, pickups, jeeps and two-wheelers have continued to push up demand of petrol while robust goods movement of goods relating to import and export followed by harvesting of the wheat crop can be attributed to improving diesel sales.

Furnace oil sales showed 155pc growth during April to 0.18m tonnes from 0.07m tonnes during April 2020 while on month-on-month sales were down 17pc.

In 10MFY21 furnace oil sales posted a 48pc growth to 2.48m from 1.68mn tonnes in 10MFY20.

Syed Fawad Bashir of Topline Securities said the overall increase in oil sales was led by massive jump in FO sales as its usage in private sector power generation has increased due to expensive grid electricity.

Published in Dawn, May 4th, 2021

Opinion

Trouble in Camelot
Updated 06 May 2021

Trouble in Camelot

The electorate knows better than to swallow the government’s rhetoric.
Time to wake up
Updated 05 May 2021

Time to wake up

The criticism reflects our failure to counter rising religious intolerance and bigotry, and also exposes a diplomatic debacle.

Editorial

Proceed with caution
Updated 06 May 2021

Proceed with caution

The slightest loosening of SOP protocols could send us hurling in the direction where India finds itself today.
06 May 2021

IPP dues

THE ECC decision to pay the first tranche of outstanding dues of one set of IPPs, and further delay the payments of...
06 May 2021

Violence against doctors

HEALTHCARE workers and doctors’ associations in two major hospitals of KP are adamant that the KP Healthcare...
05 May 2021

Path of growth

FINANCE MINISTER Shaukat Tarin finally specified the future direction that the country’s economic policy will take...
05 May 2021

Human rights 2020

THE human rights situation in Pakistan, almost predictably bleak every year, was deeply impacted in 2020 by an...
Unreasonable behaviour
Updated 05 May 2021

Unreasonable behaviour

Usman Buzdar should reprimand Dr Awan for her coarse behaviour and make sure she tenders a public apology.