Karachi February 1 2023: Sales of petroleum products increased by 8.1 percent month on month to 1.44 million tons during January 2023 in anticipation of increase in prices to meet conditions of IMF for release of USD 1.2 billion.
Sales of Motor Spirit (MS) during January 2023 increased by 4 percent MoM to 0.65 million tons compared to 0.62 million tons during December 2022. On a YoY basis, the sales of MS decreased by 13 percent.
During 7MFY23, the MS sales have been witnessed at 4.48 million tons compared to 5.26 million tons during the same period last year. The decline in sales is witnessed due to lower demand on the back of higher prices compared to last year.
The same trend has been witnessed in the sale of High-Speed Diesel (HSD), which is up by 12 percent MoM during January 2023.
During 7MFY23, the HSD sales witnessed 3.95 million tons compared to 5.10 million tons during the same period last year. The decline in sales is witnessed due to lower demand on the back of higher prices compared to last year.
Sales of Furnace oil (FO) were also up by 16 percent MoM during January 2023 to 0.14 million tons.
During 7MFY23, the FO sales witnessed 1.59 million tons compared to 2.16 million tons during the same period last year. The decline in sales is witnessed due to lower demand from power producers.
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