Business

KARACHI: According to figures provided by Topline Securities, Pakistan’s total oil sales increased to 1.3 million tonnes in August, representing a 7 percent year-over-year (YoY) gain and a 6 percent increase over July.During the first two months of FY26 (July-August), cumulative oil sales amounted to 2.523 million tonnes, representing a 5 percent YoY increase.In August, sales of gasoline (motor spirit) totaled 675,000 tons, representing an 8% year-over-year increase and a 10% month-over-month (MoM) rise. Sales of gasoline increased by 6% from 1.216 million tons during the same period last year to 1.288 million tons during July and August. Analysts ascribed the rise to rising demand from the passenger car and two- and three-wheeler industries. Sales of high-speed diesel (HSD) also increased by double digits, going up 2.6 percent from 509,000 tonnes in July and 14 percent year-over-year in August to 522,000 tonnes from 456,000 tonnes.  Diesel sales in July and August totaled 1.031 million tonnes, a 12 percent increase over the 921,000 tonnes sold during the same time in 2024.  Furnace oil (FO) consumption, on the other hand, kept falling sharply.  From 65,000 tonnes in August 2024 to barely 19,000 tonnes in August, sales fell 71 percent year over year.  The amount of FO consumed in July was 15,000 tons.  FO sales fell 76 percent to 34,000 tonnes during the July–August period compared to 142,000 tonnes during the same period last year. Sales of furnace oil have dropped precipitously, indicating a continued trend away from FO-based power generation as cleaner and more affordable fuels become increasingly popular.