Karachi: OMC announced a 19% year-over-year increase in sales volume for March 2026, reaching 1.44 million tons. However, the company cautions that an impending slowdown might affect future sales figures. According to JS Global, the sales breakdown revealed a 16% rise in Motor Spirit (MS) and a 21% increase in Hi-Speed Diesel (HSD) volumes, while High Octane (HOBC) sales saw a 28% decline for the month. Overall, OMC's sales volumes have experienced a 5% growth over the first nine months of the fiscal year 2026.
The press release also highlighted shifts in market share, particularly for Pakistan State Oil (PSO), which experienced a decrease in its share across various categories. PSO's market share for MS dropped to 39%, a decline of 2 percentage points year-over-year, while its share for HSD decreased by 3 percentage points to 43%. The HOBC market share also fell by 6 percentage points to 27%. The company attributed these losses mainly to competition from GO (Aramco) and other smaller players in the market.
Moreover, the government's Petroleum Development Levy (PDL) collection has reached approximately Rs1.2 trillion for the same period, suggesting that it is on course to surpass its fiscal year target of Rs1.47 trillion. Currently, fuel subsidies are set at Rs96 per liter for MS and Rs204 per liter for HSD, with expectations that they may exceed Rs100 billion within a few weeks due to pressures from the International Monetary Fund (IMF) to adjust domestic fuel prices in line with global market trends. These potential price hikes could present challenges for OMC's sales as the year progresses.
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