Pakistan’s fuel market recorded another downturn in November, with overall petroleum product sales declining 10% year-on-year, according to new figures released by industry sources.
Month-on-month performance also showed a soft patch, with sector sales falling 5% from October. The first five months of the current fiscal year have posted little movement compared to the same period last year.
Sales of high-speed diesel (HSD) came under heavy pressure, dropping 13% to around 683,000 metric tons (MT) from 788,000 MT a year earlier. Despite this, cumulative HSD demand for July–November showed a 4% gain, reaching 3 million MT versus 2.8 million MT last year.
Petrol consumption slid 9% in November to 608,000 MT, compared to 688,000 MT in November 2024. Over the five-month period, petrol volumes managed a modest 2% increase, reaching 3.2 million MT.
Furnace oil continued to post steep losses, plunging 32% year-on-year in November and down 67% for the July–November stretch.
Among major players, Pakistan State Oil (PSO) recorded a 19% dip in November sales, with notable declines across all key product categories. For July–November, PSO’s volumes were down 7%. Attock Petroleum Limited (APL) saw a 17% fall in November and a 4% contraction over five months.
In contrast, some smaller operators produced gains. Wafi posted an 8% increase in November, while Cnergy reported a 9% rise. Hascol’s numbers showed a marginal 2% decline.
Market share numbers indicate PSO controlled 45.4% of total product sales in November, with Gas & Oil (GO) at 10.7%. Wafi, APL, and Hascol captured 7.9%, 7.7%, and 2.4%, respectively.
