Petroleum sales rise 10% in May on economic recovery

KARACHI: Petroleum product sales rose 10 per cent year-on-year (YoY) to 1.53 million tonnes in May 2025, driven by strong demand for high-speed diesel (HSD) and signs of improved economic activity.

Sales also increased 5.0 per cent month-on-month (MoM) compared to April, according to data released on Tuesday.Analysts attributed the growth to lower petrol and diesel prices; seasonal demand for HSD during the wheat harvest; a reduction in fuel smuggling; and an overall pickup in economic momentum.

Cumulatively, petroleum sales for the first 11 months of FY25 reached 14.76 million tonnes, up 7.0 per cent year-on-year from 13.83 million tonnes in the same period last fiscal year.

Excluding furnace oil (FO), sales in May stood at 1.45 million tonnes -- marking a 10 per cent year-on-year and 6.0 per cent month-on-month increase. For the July-May period, ex-FO sales totalled 14.08 million tonnes, reflecting a 9.0 per cent rise year-on-year.

Motor spirit (MS) sales in May reached 700,000 tonnes, up 15 per cent from a year earlier and 6.0 per cent higher than April. HSD sales rose to 672,000 tonnes, up 5.0 per cent year-on-year and 8.0 per cent month-on-month. FO sales, meanwhile, grew 16 per cent year-on-year to 80,000 tonnes but declined 5.0 per cent from the previous month.

Company-wise data showed that Attock Petroleum Limited (APL) sold 137,000 tonnes in May, down 2.0 per cent year-on-year but up 9.0 per cent month-on-month. The increase was largely driven by a 2.0 per cent year-on-year and 30 per cent month-on-month rise in HSD sales. APL’s market share stood at 8.23 per cent for MS (down 3bps) and 9.54 per cent for HSD (up 161bps) in May.

Pakistan State Oil (PSO) recorded sales of 642,000 tonnes -- down 3.0 per cent year-on-year but 3.0 per cent higher than April. PSO’s market share in HSD and MS stood at 44.21 per cent and 40.47 per cent, respectively -- down 32bps and 99bps month-on-month. Its overall market share declined to 41.91 per cent in May from 42.78 per cent in April, mainly due to a drop in MS share.

Wafi Energy Pakistan Limited (WAFI) reported sales of 123,000 tonnes in May, up 23 per cent YoY and MoM -- marking a 2.5-year high. HASCOL’s sales rose to a two-year high of 54,000 tonnes, reflecting a 31 per cent YoY and 13 per cent MoM increase.

Meanwhile, the government has set a petroleum development levy (PDL) collection target of Rs1.28 trillion for FY25. Of this, Rs1.08 trillion -- or 84 per cent -- has already been collected in the first 11 months of the current fiscal year.