Pakistan's June fuel sales tumble as furnace oil demand drops 68%

Pakistan’s oil marketing companies (OMCs) recorded a 20% year-on-year decline in petroleum product sales in June 2026, largely due to a sharp drop in furnace oil demand, according to industry data compiled by AKD Securities using figures from the Oil Companies Advisory Council (OCAC).

Total industry sales stood at 1.258 million tons in June, down from 1.566 million tons a year earlier. However, sales rose 7% month-on-month from 1.172 million tons in May.

For fiscal year 2025-26, total petroleum sales slipped 1% to 16.19 million tons, compared with 16.32 million tons in the previous fiscal year.

Furnace oil records steepest decline

Furnace oil (FO) remained the weakest-performing product, with June sales plunging 68% year-on-year to 41,000 tons, reflecting lower reliance on oil-fired power generation.

High-speed diesel (HSD) sales fell 20% year-on-year to 497,000 tons, while motor gasoline (MOGAS) sales declined 11% to 649,000 tons.

Jet fuel (JP) was the only major product to post annual growth, with sales rising 15% to 57,000 tons.

PSO retains market leadership

Pakistan State Oil (PSO) remained the country’s largest oil marketing company, selling 527,000 tons in June, down 20% from a year earlier.

PSO captured 41.9% of the industry's total volumetric market share during the month, compared with 42.2% in June 2025.

For FY26, the company's market share stood at 42.4%, slightly lower than 44.0% in FY25.

Other OMCs

Attock Petroleum Ltd. (APL) posted June sales of 104,000 tons, down 21% year-on-year, with its market share easing to 8.2% from 8.4% a year earlier.

Hascol Petroleum reported sales of 44,000 tons, broadly unchanged from a year earlier.

Wafi Energy sold 117,000 tons, down 8% year-on-year, but increased its FY26 market share to 8.2% from 7.4% in FY25.

GO Petroleum recorded sales of 63,000 tons in June, a 27% year-on-year decline. Despite weaker monthly volumes, its FY26 market share improved to 11.5%, up from 10.5% in the previous fiscal year.

Diesel dominates product mix

HSD remained the largest contributor to PSO's June sales, accounting for 42.5% of the company's total volumes and representing the largest share of industry demand, followed by MOGAS.

The data showed that while gasoline and diesel demand improved modestly from May, continued weakness in furnace oil consumption weighed on overall industry sales in June.