KARACHI: Pakistan’s oil sales declined in April as rising fuel prices dampened demand, while cement dispatches and fertiliser offtake posted notable gains, reflecting mixed trends across key sectors.
According to data cited by Topline Securities, oil-marketing companies (OMCs) recorded sales of 1.36 million tonnes in April, down 7% year-on-year and 6% month-on-month. The decline was largely attributed to a sharp increase in fuel prices driven by geopolitical tensions in the Middle East.
Petrol prices surged 21% month-on-month to an average of Rs374.73 per litre, while high-speed diesel (HSD) rose 26% to Rs409.61 per litre. Consequently, petrol sales fell 7% year-on-year and 8% month-on-month to 615,000 tonnes, while HSD sales dropped 12% year-on-year and 7% month-on-month to 550,000 tonnes.
Despite the monthly slowdown, cumulative oil sales during the first 10 months of FY26 rose 4% year-on-year to 13.8 million tonnes, compared to 13.2 million tonnes in the same period last year.
Furnace oil (FO) emerged as an exception, with sales surging 63% year-on-year and 56% month-on-month to 137,000 tonnes in April, likely due to increased reliance on FO amid high prices and supply constraints. However, overall FO sales in 10MFY26 remained 11% lower year-on-year.
Meanwhile, the cement sector showed robust performance. Data from the All Pakistan Cement Manufacturers Association revealed total dispatches rose 11.14% year-on-year to 3.89 million tonnes in April. Domestic sales jumped over 20%, although exports declined by 18%.
During 10MFY26, total cement dispatches increased nearly 10% to 42.4 million tonnes, supported by strong domestic demand. The listed cement sector reported earnings of Rs108 billion in 9MFY26, up 17% year-on-year, with prices rising in both northern and southern regions.
In the agriculture sector, fertiliser demand also strengthened. According to Sherman Securities, urea offtake in April is estimated at 463,000 tonnes, marking an 85% year-on-year increase. The surge is attributed to improved farm economics, driven by higher wheat support prices and active procurement efforts by federal and provincial governments, enhancing farmers’ purchasing power.
