KARACHI: The country’s overall oil sales recorded a month-on-month increase of 5 per cent and 20pc year-on-year to 1.27 million tonnes in September.

According to Arif Habib Ltd (AHL), petrol sales rose 2pc to 0.63m tonnes in September from 0.62m tonnes in August while sales jumped 22pc year-on-year.

An 8pc rise was recorded in high-speed diesel (HSD) to 0.49m tonnes from 0.46m tonnes in August. However, HSD sales surged by a quarter year-on-year.

After facing a downward trend, furnace oil (FO) sales had improved by 5pc to 0.07m tonnes in September but remained 18pc lower YoY.

Total oil sales in 1QFY25 fell by 3pc to 3.68m tonnes from 3.81m tonnes in 1QFY24.

Petrol sales remained pegged to 1.85m tonnes while HSD sales plunged by 1pc to 1.42m tonnes in 1QFY25 from 1.44m tonnes in 1QFY24.

FO sales remained depressed by 39pc in 1QFY25 to 0.21m tonnes from 0.35m tonnes in 1QFY24 due to a decline in power generation.

On July 16, petrol and diesel were being retailed at Rs275.6 and Rs283.63 per litre compared to the current Rs247.03 and Rs246.29, respectively.

Despite the slump in automobile demand due to high prices, petrol and diesel sales showed a month-on-month sales increase.

Published in Dawn, October 2nd, 2024