Oil marketing companies record a 10% monthly recovery as seasonal diesel demand and higher furnace oil consumption support volumes.
Pakistan’s oil marketing companies (OMCs) recorded sales of 1.48 million tons in October 2026, down 1% year-on-year (YoY) but up 10% month-on-month (MoM), according to a report by Topline Securities.
The increase took cumulative OMC sales during the first four months of FY2026-27 to 5.6 million tons, representing 4% growth compared with the corresponding period last year. The improvement was mainly driven by higher furnace oil (FO) sales.
Excluding furnace oil, OMC sales stood at 1.38 million tons in October, declining 6% YoY but increasing 10% MoM. Cumulative sales excluding FO reached 5.2 million tons during 4MFY27, down 2% YoY.
The monthly recovery was primarily supported by higher high-speed diesel (HSD) sales as seasonal demand picked up. HSD volumes increased 26% MoM to 662,000 tons, although they remained 7% lower than October last year.
Petrol sales, meanwhile, declined 2% both YoY and MoM to 642,000 tons. Average Motor Spirit (MS) prices increased 46% YoY to Rs387 per litre, while HSD prices rose 45% to Rs396 per litre.
Furnace oil sales recorded a substantial increase, rising 3.4 times YoY and 2% MoM to 95,000 tons. Topline Securities attributed the growth mainly to LNG shortages, which increased furnace oil consumption for power generation.
Among listed companies, Pakistan State Oil (PSO) recorded sales of 693,000 tons, up 8% both YoY and MoM. However, its market share declined by 61 basis points to 46.90% during October, reflecting reductions in its MS and HSD market shares of 227 and 143 basis points, respectively.
Wafi Energy (WAFI) recorded sales of 136,000 tons, its highest level in 52 months. Volumes increased 12% YoY and 24% MoM. Attock Petroleum (APL) reported sales of 123,000 tons, down 1% YoY but up 6% MoM, while its market share declined by 31 basis points to 8.31%.
HASCOL recorded sales of 39,000 tons, down 6% YoY but up 5% MoM. PSO and WAFI were the only listed OMCs to post growth on both annual and monthly comparisons.
Topline Securities expects Pakistan’s OMC sales to increase by 8–10% during FY2026-27.