Use of petroleum products in Pakistan has increased in the month of September 2017 as compared to the same period last year. Sales of POL (Petroleum, Oil, and Lubricant) went up by 3% to 2.16 million tons in the month as the demand of these products increased from cars, heavy vehicles, and motorcyclists, according to a provisional data revealed on Wednesday.
Automobile sales increased by 36% which meant that there are more vehicles on the road in the country and thus the demand for petroleum products was deemed to increase.
Sales of petrol in the month of September increased by 10.6% to 0.63 million tons as compared to the same period last year. Sales of high-speed diesel increased by 7.6% in the month of September to 0.63 million tons on a year-over-year basis. Furnace oil was the only product that witnessed a decline in sales due to decreased demand from power producing companies. Furnace oil sales dropped by 6.1% to 0.77 million tons.
It is expected that the sales of petroleum products will continue to increase due to a decrease in consumption of CNG as people now run their vehicles on petrol. A lot of Japanese cars are now giving better mileage on petrol which is another reason for the increase in consumption.
Pakistan State Oil (PSO) maintained its top position in the market as its share increased to 57.57% from 55.34% in the month of September as compared to the same period last year. Shell lost its second position as its market share slipped down to 5.51% from 9.97% in September 2017 as compared to the same period last year.
Hascol continued its rapid growth as it took the second position with market share of 10.31% in September 2017. Hascol’s had a market share of 8.62% in September 2016. The third place was taken by Attock Petroleum with a market share of 7.87% in September 2017. However, its share decreased from 8.10% from the same period last year.