Karachi: Pakistan's Oil Marketing Companies (OMCs) recorded a notable increase in sales for February 2026, reporting a 13% year-on-year rise to 1.3 million tons, despite a 15% decline from the previous month.
According to JS Global, the year-on-year growth is attributed to an economic recovery, easing inflation, and improved control over smuggling. However, the month-on-month decline is linked to fewer working days in February and higher diesel prices. Total sales for the first eight months of the fiscal year reached 10.96 million tons, reflecting a 4% increase from the same period last year.
Excluding Furnace Oil (FO), February sales were 1.2 million tons, marking a 14% year-on-year increase but a 12% decline from January. The eight-month period saw Ex-FO sales totaling 10.7 million tons, up 6% year-on-year. February also saw price increases in Motor Spirit (MS) and High-Speed Diesel (HSD), with MS prices rising by 1% and HSD by 6% from the previous month.
In terms of specific products, MS sales rose 12% year-on-year, reaching 621,000 tons, while HSD sales increased by 22% year-on-year to 523,000 tons but fell 21% from January. FO sales declined by 16% year-on-year and 57% month-on-month to 44,000 tons.
Among listed companies, Attock Petroleum's (APL) sales remained flat year-on-year at 102,000 tons but fell 24% from January, primarily due to declining HSD sales. Pakistan State Oil (PSO) reported a 14% year-on-year increase in sales to 537,000 tons, despite a 14% month-on-month decrease. PSO's market share in MS and HSD grew slightly, reflecting month-on-month increases of 106 basis points and 64 basis points, respectively.
Wafi Energy Pakistan Limited (WAFI) saw a 30% year-on-year increase in sales to 109,000 tons, although sales decreased by 11% from January. HASCOL's sales rose 4% year-on-year to 44,000 tons but declined 10% month-on-month.
The government has set a Petroleum Development Levy (PDL) collection target of Rs1.47 trillion for the fiscal year 2026, with Rs991 billion, or 67%, collected in the first eight months.
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