KARACHI: Country’s overall oil sales outlook remained depressed in November and 5MFY23 due to a slowdown in economic activities, falling sales of automobiles and high oil prices.

Arif Habib Ltd while quoting data from the Oil Companies Advisory Council (OCAC) said that the total oil sales in November stood at 1.55 million tonnes versus 1.66m tonnes in October and 1.75m tonnes in November 2021 depicting a drop of 7pc month-on-month and 11.5pc year-on-year. The sales during 5MFY23 plunged by 20pc to 7.70m tonnes from 9.60m tonnes in the same period last fiscal year.

Petrol sales during November stood at 0.67m tonnes as compared to 0.68m tonnes in October and 0.70m tonnes recorded in November 2021. In 5MFY23, total petrol sales posted a fall of 16pc to 3.21m tonnes from 3.81m tonnes in the same period last fiscal year. With a drop of 6pc, diesel sales in November were 0.67m tonnes as compared to 0.71m tonnes the preceding month, while November 2021 sales were 0.81m tonnes, showing a decline of 18pc. Diesel sales in 5MFY23 registered a fall of 24pc to 2.84m tonnes from 3.74m tonnes in the same period last fiscal year.

Furnace oil (FO) sales came down by 33pc in November to 0.14m tonnes from 0.20m tonnes in October. There was a 22pc fall in FO sales if compared to 0.18m tonnes sold in November 2021.

Published in Dawn, December 3rd, 2022

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Blatant Islamophobia
Updated 30 Jan, 2023

Blatant Islamophobia

Muslim extremists and terrorist outfits are emboldened by hateful acts.
Modern slavery
30 Jan, 2023

Modern slavery

MODERN slavery is a wide-ranging term that can encompass a multitude of scenarios. Common to all of them, however, ...
Remarkable Sania
30 Jan, 2023

Remarkable Sania

BRINGING to a close a career in which she smashed stereotypes, Sania Mirza delivered almost the perfect ending in ...
Losing grip
Updated 29 Jan, 2023

Losing grip

The state and the government are responsible for providing Imran with the security he deserves as a former prime minister.
Telling silence
Updated 29 Jan, 2023

Telling silence

THE silence of the Sindh government over the recent exposé in this paper about Karachi’s water tanker mafia ...
Palestine escalation
29 Jan, 2023

Palestine escalation

THE fire of conflict once again threatens to envelop the land of Palestine, as the growing cycle of violence refuses...