• Download the Constitution of Pakistan
  • Advertise
Friday, July 25, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Business

Sale of petroleum products sink 8% in August

by News Publishing
September 2, 2023
in Business
Reading Time: 2 mins read
0
Sale of petroleum products dips 8% in August
Share on FacebookShare on TwitterLinkedinWhatsapp

Total petroleum product sales in Pakistan were 1.41 million tonnes in August 2023, an 8% decrease year on year due to an economic downturn and a drop in oil-based power generation.

The drop in sales is “primarily due to a 64% YoY drop in Furnace Oil (FO) sales due to lower reliance on FO-based power generation due to the addition of new local coal-based power plants,” according to a letter from Arif Habib Limited (AHL).

FO sales fell by 0.12 million tonnes in August 2023, compared to 0.33 million tonnes in the same time last year (SPLY).

However, sales of MS (petrol) inched up 5% YoY, clocking in at 0.67 million tons in August. The volume of High-Speed Diesel (HSD) also improved by 11% YoY, settling at 0.55 million in August 2023.

The increase comes “amid the absence of heavy rainfall as compared to last year,” said AHL.

However, on a month-on-month basis, POL products offtake witnessed an increase of 4% during August, “due to an increase in fortnightly pricing trend during the month,” said AHL.

Volumes of MS inched up by 2%, whereas HSD offtake increased by 11%. Meanwhile, FO sales registered a decline of 18% MoM.

Total petroleum product sales fell by 7% year on year in the first two months of FY24, to 2.76 million tonnes, compared to 2.97 million tonnes in SPLY.

According to product data, the reduction was led by a 61% drop in FO sales to 0.26 million tonnes. Meanwhile, MS and HSD offtake increased by 8% and 11% to 1.33 million tonnes and 1.04 million tonnes, respectively.

PSO’s offtake fell 8% year on year in August 2023, owing mostly to an 86% year-on-year reduction in FO sales. In contrast, MS and HSD offtake increased by 15% and 32%, respectively, year on year.

Similarly, sales at Attock Petroleum Limited (APL) and Shell Pakistan Limited (SHEL) fell by 2% and 11% year on year, respectively, due to a drop in total product sales.

Hascol Petroleum Limited (HASCOL) sales, on the other hand, increased by 27% year on year.

Tags: Augustlatestpetroleum productsSale of petroleum
News Publishing

News Publishing

Related Posts

Pakistan, Russia sign Protocol to restore & modernize PSM

Pakistan, Russia sign Protocol to restore & modernize PSM

by News Publishing
July 11, 2025
0

Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing...

PSX soars to new high of over 133,000 points in intraday trade

PSX soars to new high of over 133,000 points in intraday trade

by News Publishing
July 7, 2025
0

July 8, 2025: The Pakistan Stock Exchange (PSX) continued its remarkable upward trend on Monday, as the KSE-100 index surged...

Pakistan, Azerbaijan sign $2billion investment agreement

Pakistan, Azerbaijan sign $2billion investment agreement

by News Publishing
July 5, 2025
0

Pakistan and Azerbaijan have signed an agreement for investment worth two billion dollars in diverse sectors of Pakistan's economy. The...

Petrol price increased by Rs8.36 per litre for next fortnight

Petrol price increased by Rs8.36 per litre for next fortnight

by News Publishing
July 1, 2025
0

The Finance Division has announced a significant increase in fuel prices, citing volatility in global crude oil markets. Effective from...

Petrol increase

Petrol Prices Likely to Rise by Rs5/Litre from July 1

by Anum Arif
June 30, 2025
0

ISLAMABAD: Prices of petroleum products in Pakistan are likely to rise by up to Rs5 per litre starting Monday, July...

Govt Eyes $3.3 Billion in Foreign Loans From Chinese Banks

Govt Eyes $3.3 Billion in Foreign Loans From Chinese Banks

by News Publishing
June 24, 2025
0

The Government of Pakistan is working on securing two foreign loans totaling $3.3 billion from Chinese financial institutions, aimed at...

Next Post
Asia Cup 2023: India win toss against Pakistan, opt to bat

Pak vs Ind: India set 267-run target after bowlers bring Pakistan back in game

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters