Karachi, April 2, 2026 – Pakistan recorded a strong rise in petroleum product sales during March 2026, with Oil Marketing Companies (OMCs) reporting a 13% month-on-month (MoM) increase despite conservation measures and rising fuel prices amid global geopolitical tensions.
According to industry data, OMCs sold 1.44 million tons of petroleum products in March, marking a 19% increase year-on-year (YoY) and a 13% rise MoM. The growth comes despite higher fuel prices driven by the ongoing Middle East crisis, particularly tensions involving the United States and Iran.
On a per-day basis, sales grew modestly by 2% MoM, reflecting that the overall monthly increase was partly due to a lower base in February, which had fewer working days.
Cumulatively, Pakistan’s oil sales for the first nine months (9MFY26) reached 12.4 million tons, up 5% compared to 11.77 million tons in the same period last year. Excluding Furnace Oil (FO), sales stood at 1.36 million tons in March, showing a 17% YoY and 10% MoM increase.
Despite significant price hikes—Motor Spirit (MS) rose 21% to Rs310.17 per litre, while High-Speed Diesel (HSD) increased 19% to Rs324.86 per litre—demand remained resilient. Analysts suggest this indicates improving economic activity, better control over fuel smuggling, and steady consumption patterns.
Product-wise Performance
MS sales increased 16% YoY and 8% MoM to 670,000 tons, while HSD sales rose 21% YoY and 13% MoM to 590,000 tons. Furnace Oil witnessed a sharp surge of 62% YoY and 98% MoM, reaching 88,000 tons, likely due to its use as an alternative amid fuel supply constraints.
Company-wise Trends
Among key players, Attock Petroleum (APL) posted sales of 114,000 tons, up 8% YoY. Pakistan State Oil (PSO) saw a 23% YoY increase, while Wafi Energy (WAFI) reported 103,000 tons, up 17% YoY. However, Hascol Petroleum (HASCOL) experienced a 9% YoY decline.
The government has set a Petroleum Development Levy (PDL) collection target of Rs1.47 trillion for FY26, of which Rs1.13 trillion (77%) has been collected in the first nine months, according to estimates.
Looking ahead, analysts at Topline Securities Limited expect a possible decline in oil sales in April due to rising fuel prices and potential government price adjustments. Increasing Price Differential Claims (PDC), currently Rs96 per litre for petrol and Rs204 per litre for diesel, may also impact consumer demand in the coming months.