Karachi: Pakistan's Oil Marketing Companies (OMCs) experienced a significant increase in sales during March 2026, with figures reaching 1.44 million tons, marking a 19% year-on-year (YoY) rise and a 13% month-on-month (MoM) growth. This growth reflects a combination of improving economic conditions, easing inflation, and better control over smuggling, despite challenges posed by higher petroleum prices linked to geopolitical tensions between the United States and Iran.
According to JS Global, the total sales for the first nine months of the fiscal year 2026 (9MFY26) reached 12.4 million tons, showing a 5% YoY increase compared to the previous year. Excluding Furnace Oil (FO) sales, March 2026 saw a 17% YoY and 10% MoM rise to 1.36 million tons, while the Ex-FO sales for 9MFY26 totaled 12 million tons, reflecting a 7% YoY increase.
Motor Spirit (MS) and High-Speed Diesel (HSD) prices saw significant hikes in March 2026, with MS prices increasing by 21% MoM and HSD by 19% MoM. Despite these price increases, MS sales rose 16% YoY and 8% MoM to 670,000 tons, and HSD sales increased by 21% YoY and 13% MoM to 590,000 tons. FO sales experienced a substantial surge of 62% YoY and 98% MoM to 88,000 tons, driven by a shift towards FO as an alternative amid rising prices and constrained fuel availability.
Among listed entities, Attock Petroleum's sales increased by 8% YoY to 114,000 tons in March 2026, while Pakistan State Oil (PSO) recorded a 23% YoY rise. Wafi Energy's sales grew by 17% YoY to 103,000 tons, whereas HASCOL reported a 9% YoY decline, with sales totaling 45,000 tons.
The government has set a Petroleum Development Levy (PDL) collection target of Rs1.47 trillion for FY26, of which approximately Rs1.13 billion (77%) has been collected in the first nine months. However, industry analysts expect a potential decline in oil sales in April 2026 due to elevated petroleum prices, which may suppress demand. Additionally, the government might increase fuel prices as the Price Differential Claim (PDC) has risen significantly to Rs96 per liter for petrol and Rs204 per liter for diesel.
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