Islamabad March 15 2022: As per the latest data released by Pakistan Bureau of Statistics (PBS), Pakistan Petroleum imports witnessed an increase of 101 percent during 8MFY22. It the highest Petroleum imports for any 8 Months.
Rise in Petroleum imports is witnessed due to 67 percent YoY rise in crude oil prices along with 14 percent higher volumetric imports.
During February 2022, Petroleum imports increased by 55 percent YoY to USD 1,245 million, while it is down by 18 percent compared to January 2022.
The decline in imports on MoM basis is declined due to 30 percent decline in volume of petroleum products to 799 thousand tons. Country imported 1,141 thousand tons of petroleum products during January 2022.
During February 2022 volumetric imports of crude oil also decreased by 12 percent to 600 thousand tons when compared with the previous month.
Petroleum products imports during 8MFY22 increased by 117 percent to 6,255 million. 22 percent Higher volumetric imports along with higher prices were the reasons behind this increase.
Crude oil imports during 8MFY22 also increased by 80 percent to 3,156 million. 67 percent Higher prices was the main reasons behind this increase, however volumes also increased by 1 percent 5,854 thousand tons.
