Karachi September 1 2022: Pakistan sales of petroleum products decreased by 22 percent to 1.53 million tons during August 2022 when compared with the sales of the same month last year due to higher monsoon rains and floods.
Torrential rains and flooding have submerged a third of Pakistan and killed more than 1,100 people, including 380 children as the United Nations appealed for aid on Tuesday 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, totalling 390.7 millimetres (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 August 2022 decreased by 13 percent year-on-year to 0.64 million tons compared to 0.74 million tons during August 2022.
During 2MFY23, the MS sales have been witnessed at 1.23 million tons compared to 1.55 million tons during the same period last year. Sales of MS decreased by 20 percent during 2MFY23. 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 26 percent year on year during August 2022. The reason for decline in HSD sales was lower logistic movement and less usage in Agriculture tubewells.
During 2MFY23, the HSD sales witnessed at 0.94 million tons compared to 1.39 million tons during the same period last year. Sales of HSD decreased by 32 percent during 2MFY22.
Sales of Furnace oil (FO) were also down by 36 percent year on year during August 2022 to 0.33 million tons. The decline in sales is witnessed due to lower demand from power producers.
During 2MFY22, the FO sales witnessed at 0.68 million tons compared to 0.87 million tons during the same period last year. Sales of FO decreased by 22 percent during 2MFY23.