Pakistan oil sales rise 6% in December despite transporters’ strike

Pakistan’s oil marketing companies posted a 6% year-over-year increase in petroleum sales in December, though volumes fell 5% from November due largely to a nationwide transporters’ strike, according to data released by Topline Securities.

Total industry sales stood at 1.35 million tons in December, compared with the same month a year earlier. On a month-on-month basis, however, sales declined after transporters went on strike on Dec. 8, disrupting fuel distribution for about 10 days.

“The year-on-year improvement reflects gradual economic recovery, easing inflationary pressures and improved control of fuel smuggling,” Topline Securities said in a note dated Jan. 2.

For the first half of fiscal year 2026 (July-December), cumulative oil sales reached 8.2 million tons, up 2% from 8.02 million tons in the same period last year.

Excluding furnace oil, December sales totaled 1.29 million tons, up 5% from a year earlier but down 7% from November. In the first half of FY26, ex-furnace oil sales rose 4% year over year to 8.0 million tons, Topline said.

Fuel prices edged lower during the month. Petrol prices averaged PKR 263.45 per liter, while high-speed diesel prices fell about 3% month on month to an average of PKR 272.65 per liter from PKR 281.44 in November.

By product, petrol sales rose 11% year over year and 3% from November to 628,000 tons in December. High-speed diesel sales declined 4% from a year earlier and dropped sharply, by 19%, from the previous month to 553,000 tons. Furnace oil sales, by contrast, surged 40% year over year and 130% month on month to 58,000 tons.

Among listed companies, Attock Petroleum Ltd. reported December sales of 103,000 tons, down 7% year over year and 5% month on month, mainly due to weaker furnace oil volumes.

Pakistan State Oil, the country’s largest fuel retailer, recorded sales of 535,000 tons, a decline of 7% from a year earlier and 17% from November, with market share losses in both petrol and diesel.

Wafi Energy Pakistan Ltd. posted December sales of 104,000 tons, up 10% year over year but down 7% from the previous month, while Hascol Petroleum Ltd. reported sales of 47,000 tons, up 9% year over year and 40% month on month.

Looking ahead, Topline Securities said it expects overall oil sales in fiscal year 2025-26 to grow between 7% and 10%.

The brokerage added that the government has set a petroleum development levy collection target of PKR 1.47 trillion for FY26, with about PKR 739 billion — roughly half — already collected in the first half of the fiscal year.