Pakistan's oil sales fall 1% in October despite diesel-led recovery

Sales of petroleum products in Pakistan fell 1% year-on-year to 1.48 million metric tons in October 2026, although they increased 10% from September, according to Topline Securities.

Cumulative sales by oil marketing companies (OMCs) reached 5.6 million tons during the first four months of fiscal year 2027, up 4% from the corresponding period last year, primarily due to a sharp increase in furnace oil consumption.

What drove petroleum sales in October?

Diesel accounted for much of October's monthly recovery. High-speed diesel (HSD) volumes increased 26% from September to 662,000 tons, although they were 7% lower than a year earlier. Petrol sales moved in the opposite direction month-on-month, falling 2% to 642,000 tons, and were also down 2% from October 2025.

Excluding furnace oil, OMC sales declined 6% year-on-year to 1.38 million tons in October, although they increased 10% from September. Cumulative sales of petroleum products, excluding furnace oil, fell 2% to 5.2 million tons during July–October FY27.

Average petrol prices rose 46% year-on-year to PKR 387 per liter, while HSD prices increased 45% to PKR 396 per liter.

Furnace oil sales reached 95,000 tons in October, approximately 3.4 times their level a year earlier and 2% higher than in September. Topline Securities attributed the increase primarily to LNG shortages, which prompted greater furnace oil consumption for power generation.

How did major oil marketing companies perform?

Among listed OMCs, Pakistan State Oil (PSO) recorded sales of 693,000 tons, up 8% both year-on-year and month-on-month.

However, PSO's market share declined by 0.61 percentage points from September to 46.9%, as its shares in petrol and HSD sales fell by 2.27 and 1.43 percentage points, respectively.

Wafi Energy recorded sales of 136,000 tons, its highest monthly volume in 52 months, representing an increase of 12% year-on-year and 24% month-on-month.

Attock Petroleum Limited (APL) posted sales of 123,000 tons, down 1% year-on-year but up 6% from September. Its market share declined by 0.31 percentage points to 8.31% during the month.

Hascol Petroleum reported sales of 39,000 tons, down 6% year-on-year but up 5% month-on-month.

Of the four listed OMCs covered, PSO and Wafi Energy were the only ones to record sales growth on both annual and monthly bases in October.