Monday, April 15, 2024

Petroleum Sales Volume reached to Highest in 2 Years

Pakistan has recorded the highest sales volume of petroleum products in 2 years as per the latest figures; 1.7 million tons of these petroleum products were sold in October 2020. Sales almost increased to 11% compared to the previous month; however, around 1.52 million tons of petroleum products were sold previously.

Due to the lockdown, the sales were highly affected, but this rise in sales volume is due to the lifting of lockdown and the resumption of all the economic activities of Pakistan. A very noticeable rise in diesel demand, particularly the high-speed one, is also reported by up to 43%.

The diesel sales were 0.67 million tons in October and 0.47 million tons in the month of September that resulted in it being the highest sold petroleum product during the month. The petrol demand has increased to 7%, and 0.69 million tons of petrol was sold in the month of October and 0.64 million tons in the month of September.

The demand for furnace oil fell by 22%, with only 0.29 million tons of sales in October compared to 0.37 million tons of sales in September. It is used mainly as a power source for oil-based power-plants.

However, in the Oil Marketing Companies of Pakistan, Hascol Petroleum Limited reported the highest sales and improvement in the Month on Month (MoM) sales volume and figures with a 32 percent increase.

Shell Pakistani Limited petroleum ranked second in the list with a record of a 22% MoM increase in sales and followed by the Pakistan State Oil (PSO) that recorded a 10% MoM increase in total.

Syed Ali Abbas
Syed Ali Abbashttps://startuppakistan.com.pk
General Manager at Startup Pakistan

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