Karachi October 3 2022: Pakistan sales of petroleum products decreased by 22 percent to 1.52 million tons during September 2022 when compared with the sales of the same month last year due to higher monsoon rains and floods.
The petroleum sales during the month of September decline by 0.1 percent when compared with sales of previous month.
Torrential rains and flooding have submerged a third of Pakistan and killed more than 1,100 people, including 380 children as the United Nations is going to appeal for aid of USD 600 million Tomorrow for what it described as an “unprecedented climate catastrophe.”
The country has received nearly 190% more rain than the 30-year average in the quarter through August this year, totaling 390.7 millimeters (15.38 inches). Sindh province, with a population of 50 million, was hardest hit, getting 466% more rain than the 30-year average.
Sales of Motor Spirit (MS) during September 2022 decreased by 22 percent year-on-year to 0.628 million tons compared to 0.804 million tons during September 2021.
During 3MFY23, the MS sales have been witnessed at 1.86 million tons compared to 2.35 million tons during the same period last year. Sales of MS decreased by 21 percent during 3MFY23. The decline in sales is witnessed due to lower demand on the back of higher prices compared to last year and reduction in mobility due to higher monsoon rains.
The same trend has been witnessed in the sale of High-Speed Diesel (HSD), which declined by 27 percent year on year during September 2022. The reason for decline in HSD sales was lower logistic movement and less usage in Agriculture tubewells.
During 3MFY23, the HSD sales witnessed at 1.46 million tons compared to 2.09 million tons during the same period last year. Sales of HSD decreased by 30 percent during 3MFY22.
Sales of Furnace oil (FO) were also down by 7 percent year on year during September 2022 to 0.30 million tons. The decline in sales is witnessed due to lower demand from power producers on higher cost of generation.
During 3MFY22, the FO sales witnessed at 0.98 million tons compared to 1.27 million tons during the same period last year. Sales of FO decreased by 23 percent during 3MFY23.