12.53MMT petroleum products imported in 9 months of ongoing fiscal

ISLAMABAD: Pakistan imported a total of 12.53 million metric tonnes (MMT) of petroleum products during July-March FY 2025, up from 11.14 MMT in the same period of FY 2024, representing a 12.5 percent increase in quantity.

However, according to the Economic Survey 2024-25, the total import bill in value terms remained relatively stable, amounting to US$ 8.40 billion, almost unchanged from US$ 8.44 billion in July-March FY 2024. This reflects a combination of higher import volumes but lower international oil prices and improved procurement efficiency.

The import of Motor Spirit (MS) increased by 11.3 percent in volume to 3.98 MMT, though the import value declined by 5.1 percent to US$ 3.04 billion, compared to US$ 3.20 billion in the corresponding period of last year. This divergence points to a favourable shift in global prices despite rising demand from the transport sector.

A sharp surge was observed in HOBC imports, rising more than eightfold from 17.83 thousand MT to 144.44 thousand MT, with the import value increasing from US$ 16.25 million to US$ 108.40 million. This indicates rising demand for high-end vehicle segment. Imports of High Speed Diesel (HSD) rose from 1.23 MMT to 1.45 MMT, marking a 17.4 percent increase in volume, although the value marginally declined to US$ 1.01 billion, again reflecting more favourable pricing in global markets.

Imports of crude oil rose from 6.21 MMT to 6.76 MMT, registering an 8.8 percent increase in volume, while the value remained almost flat at US$ 4.11 billion, owing to softening crude prices in the global market. The increase in crude imports aligns with higher local refining activity to meet domestic demand through indigenously processed fuels.

A marginal quantity of 100/LL aviation gasoline (0.24 thousand MT) was also imported during July-March FY 2025, not recorded in the previous year. Jet fuel (JP-1) imports nearly doubled, rising from 98.24 thousand MT to 195.67 thousand MT, with the import value increasing to US$ 143.10 million, indicating a strong rebound in international and domestic air travel.