Karachi, January 3, 2026: Pakistan’s petroleum product sales recorded a 6 percent year-on-year (YoY) increase in December 2025, supported by signs of economic recovery, easing inflation, and improved control over fuel smuggling, according to analysts at Topline Securities Limited.
However, on a month-on-month (MoM) basis, overall petroleum sales declined by 5 percent, largely due to a nationwide transporters’ strike that began on December 8, 2025, and lasted for around 10 days, disrupting fuel consumption and logistics.
First-Half FY26 Petroleum Sales
Cumulatively, petroleum sales during the first half of FY2025-26 (July–December) reached 8.2 million tons, reflecting a 2 percent YoY increase compared to 8.02 million tons recorded in the same period last year.
Excluding Furnace Oil (FO), sales in December 2025 stood at 1.29 million tons, marking a 5 percent YoY increase but a 7 percent MoM decline. For 1HFY26, ex-FO sales totaled 8.0 million tons, up 4 percent YoY.
Product-Wise Performance
In December 2025, Motor Spirit (MS) prices edged down to an average of Rs263.45 per litre, while High-Speed Diesel (HSD) prices declined by 3 percent to Rs272.65 per litre, compared to Rs281.44 per litre in November.
• MS sales rose 11 percent YoY and 3 percent MoM to 628,000 tons.
• HSD sales declined 4 percent YoY and 19 percent MoM to 553,000 tons.
• FO sales surged 40 percent YoY and 130 percent MoM to 58,000 tons.
Company-Wise Sales
Among listed companies, Attock Petroleum Limited (APL) posted sales of 103,000 tons, down 7 percent YoY and 5 percent MoM, mainly due to lower FO sales. Pakistan State Oil (PSO) recorded 535,000 tons, reflecting a 7 percent YoY and 17 percent MoM decline. Meanwhile, Wafi Energy Pakistan and HASCOL posted mixed but improved performances.
FY26 Outlook
Analysts expect oil sales to grow between 7–10 percent in FY26. The government has set a Petroleum Development Levy (PDL) collection target of Rs1.47 trillion for FY26, with an estimated Rs739 billion (50 percent) already collected in the first half of the fiscal year.