Pakistan Oil Marketing Companies See Mixed Sales Trends Amid Price Surge

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Business

November 2, 2026

Karachi: Pakistan's Oil Marketing Companies (OMCs) reported a nuanced performance for October 2026, with overall sales reaching 1.48 million tons—marking a 1% decline compared to the previous year but a 10% increase from the previous month. Year-to-date figures for the first four months of the fiscal year 2027 show a 4% increase, largely driven by a rise in Furnace Oil (FO) sales.

According to JS Global, sales excluding FO for October 2026 stood at 1.38 million tons, reflecting a 6% decline year-over-year but a 10% increase month-over-month. This brought the year-to-date sales, excluding FO, to 5.2 million tons, a 2% decline from the previous year. The monthly uptick was primarily attributed to heightened demand for High-Speed Diesel (HSD) due to seasonal factors.

Petrol sales for the month experienced a 2% decline both year-over-year and month-over-month, totaling 642,000 tons. Conversely, HSD volumes fell 7% year-over-year but surged 26% month-over-month to 662,000 tons. The increases are in the context of significant price hikes, with average Motor Spirit (MS) prices rising 46% year-over-year to Rs387 per litre and HSD prices climbing 45% to Rs396 per litre.

FO sales saw a substantial increase, up 3.4 times year-over-year and 2% month-over-month to 95,000 tons in October 2026, driven by shortages in LNG that boosted FO consumption in power generation.

In terms of company performance, Attock Petroleum (APL) recorded sales of 123,000 tons in October 2026, reflecting a 1% decrease year-over-year but a 6% rise month-over-month. The company’s market share decreased by 31 basis points to 8.31% month-over-month. Pakistan State Oil (PSO) saw an 8% year-over-year and month-over-month increase, achieving sales of 693,000 tons, although its market share fell by 61 basis points to 46.90%, influenced by drops in its MS and HSD market share by 227 basis points and 143 basis points, respectively.

Wafi Energy (WAFI) reported sales of 136,000 tons, marking a 52-month high, with a 12% year-over-year and 24% month-over-month rise. Meanwhile, HASCOL's sales were recorded at 39,000 tons, a 6% decrease year-over-year but a 5% increase month-over-month.

PSO and WAFI were the only listed OMCs to achieve both year-over-year and month-over-month growth. Looking ahead, an 8-10% growth in OMC sales is anticipated for the fiscal year 2027.