Petroleum Sales Rise Sharply in July

Pakistan's Oil Marketing Companies (OMCs) recorded a strong recovery in July 2026, with total industry sales of petroleum products increasing 23.3% year-on-year to 1.51 million tons, compared with 1.22 million tons in July 2025, according to data compiled by Arif Habib Limited (AHL) Research.

On a month-on-month basis, total industry sales rose 20%, increasing from 1.26 million tons in June 2026.

Excluding furnace oil (FO), petroleum sales grew 18.5% year-on-year, marking the strongest July performance since 2021 on an ex-FO basis.

The growth was primarily driven by high-speed diesel (HSD), whose sales climbed 22.6% year-on-year to 0.62 million tons, while also rising 25% month-on-month from 0.50 million tons in June. Meanwhile, motor spirit (MS) sales increased 18.9% year-on-year to 0.73 million tons, up 12% from 0.65 million tons a month earlier.

According to AHL Research, the improvement was supported by better agricultural conditions, stronger farming activity, and a gradual recovery in economic activity and automobile demand.

Although furnace oil accounted for a relatively small portion of total sales, it registered the sharpest growth, surging 89% month-on-month and 406% year-on-year to 0.08 million tons, compared with 0.04 million tons in June and 0.02 million tons in July 2025.

Pakistan State Oil (PSO) outperformed the overall industry, with total sales rising 38% year-on-year to 702,000 tons, up from 510,000 tons in July 2025 and 33% higher than 530,000 tons recorded in June 2026.

PSO's performance was led by strong motor spirit sales, which increased 44.1% year-on-year to 0.34 million tons, while rising 35% month-on-month from 0.25 million tons. Its HSD sales also grew 40.3% year-on-year to 0.29 million tons, representing a 38% monthly increase from 0.21 million tons. Although PSO's furnace oil volumes remained limited, they rose 106% year-on-year and 175% month-on-month.

As a result, PSO's motor spirit market share climbed to 46.8%, its highest level since March 2024, while its HSD market share reached 46.7%, the highest since November 2025.

Among other major OMCs, Attock Petroleum Limited (APL) recorded total sales of 0.13 million tons, up 28% year-on-year and 22% month-on-month. Its MS sales reached 0.06 million tons, increasing 23% annually and 10% monthly, while HSD sales rose to 0.05 million tons, up 21% year-on-year and 16% month-on-month. APL's furnace oil sales also surged 207% year-on-year and 272% month-on-month, albeit from a relatively low base of 0.01 million tons.

WAFI posted total sales of 0.13 million tons, reflecting a 24% annual increase and 12% monthly growth. Its MS sales stood at 0.07 million tons, up 27% year-on-year, while HSD sales reached 0.05 million tons, increasing 29% annually and 15% over the previous month.

HASCOL was the only major OMC to post a decline, with total sales falling 6% year-on-year and 4% month-on-month to 0.04 million tons. Its MS sales dropped 25% annually and 26% monthly to 0.02 million tons, while HSD sales increased 20% year-on-year and 22% month-on-month, also reaching 0.02 million tons.