Islamabad, Volumetric offtakes in Pakistan's Oil Marketing Companies (OMC) sector fell to a seven-month low, reaching 1.1 million tons in April 2024. The figures represent a decline of 4% month-on-month and 6% year-on-year.

According to AKD Securities Limited, diesel sales exhibited only marginal increases despite the ongoing Kharif harvesting season, rising by 1% month-on-month and 2% year-on-year. Typically, this season sees a 30-45% month-on-month surge in offtakes as farmers engage in advanced procurement of fuel for use in irrigation pumps, harvesters, and other equipment. As the final quarter of the fiscal year approaches, it is estimated that authorities have amassed PkR 806 billion during the first ten months of fiscal year 2024 under the Petroleum Development Levy head.