Monday, December 11, 2023

March saw a 7% increase in petroleum product sales

Petroleum product sales increased by 7% in March 2021 compared to the previous month, while they increased by more than 15% in the first nine months of the current financial year (July-March) compared to the same period of the previous financial year, indicating that economic activity is improving.

Oil Marketing Company (OMC) sales reached 1.44 million tonnes in March 2021, compared with 1.37 million tonnes in February last year.

However, on an annual basis, the total industrial volume shows a significant jump from 46% from 1 million tonnes in March 2020 to 1.49 million tonnes in March 2021.

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Given that the country was blocked in the last week of March 2020, this comparison holds. seems inappropriate as demand is so low.

On a monthly basis, industrial sales growth was largely assisted by a 10% monthly increase in motor fuel (MS) sales to 0.62 million tonnes against a backdrop of better economic activity.

Demand for furnace oil (FO) also remained stable because it rose 20% every month to 0.19 million tonnes.

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However, monthly high-speed diesel (HSD) consumption fell 4% to 0.54 million tonnes in Punjab Province, mainly due to the smart blockade.

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