KARACHI: Sales of petroleum products climbed to 1.52 million tonnes in January 2026, marking a 10 per cent year-on-year (YoY) increase and a 12 per cent rise compared with December, according to industry data.
Analysts attributed the annual growth to signs of economic recovery, easing inflation and improved enforcement against fuel smuggling. The month-on-month (MoM) increase was largely driven by lower petrol and diesel prices and a low base effect following a nationwide strike in December 2025 that disrupted sales for nearly 10 days.
During the first seven months of FY26, total oil sales reached 9.7 million tonnes, up 3 per cent from 9.4 million tonnes in the corresponding period of the previous fiscal year. Excluding furnace oil (FO), sales in January stood at 1.41 million tonnes, showing a 7 per cent YoY and 9 per cent MoM increase. Cumulative ex-FO sales for July–January FY26 rose 5 per cent year-on-year to 9.41 million tonnes.
Fuel prices declined in January, supporting demand. The average price of motor spirit (MS) fell 4 per cent MoM to Rs253.17 per litre, while high-speed diesel (HSD) prices dropped 6 per cent to Rs257.08 per litre.
MS sales increased 3 per cent YoY and 2 per cent MoM to 641,000 tonnes, while HSD sales surged 11 per cent YoY and 20 per cent MoM to 664,000 tonnes. Furnace oil sales jumped sharply, rising 76 per cent both YoY and MoM to 102,000 tonnes—the highest level in seven months.
Among listed oil marketing companies, Attock Petroleum Limited (APL) posted sales of 134,000 tonnes in January, up 2 per cent YoY and 31 per cent MoM, mainly due to higher FO volumes. Pakistan State Oil (PSO) recorded sales of 626,000 tonnes, reflecting a 6 per cent YoY and 17 per cent MoM increase, while strengthening its market share in both MS and HSD.
Wafi Energy Pakistan Limited (WAFI) reported sales of 122,000 tonnes, up 20 per cent YoY and 17 per cent MoM. HASCOL’s sales stood at 49,000 tonnes, down 3 per cent YoY but 5 per cent higher than December.
Looking ahead, analysts expect oil sales in FY26 to grow between 7 and 10 per cent. The government has set a petroleum development levy (PDL) collection target of Rs1.47 trillion for FY26, of which Rs871 billion—around 59 per cent—has already been collected in the first seven months of the fiscal year.
