Pakistan’s petroleum sales fell sharply in November, dropping 10 percent year-on-year as consumption of high-speed diesel, petrol, and furnace oil continued to weaken, according to industry data released Monday.

Month-on-month numbers were also disappointing, with overall fuel sales slipping 5 percent compared to October. Despite the slump, total sales during July–November of FY25 remained largely flat versus the same period last year, suggesting stagnating national fuel demand.

High-speed diesel took the biggest hit in November, recording a 13 percent fall to 683000 metric tons (MT) from 788000 MT last year. Yet, over the first five months, HSD sales still rose 4 percent to 3 million MT, supported by agricultural and transport activity.

Petrol sales also cooled, dropping 9 percent year-on-year to 608000 MT versus 688000 MT in November 2024. Still, petrol demand in the July–November period showed a modest 2 percent rise to 3.2 million MT.

Furnace oil remained the weakest performer. Sales collapsed 32 percent in November and plunged 67 percent over the five-month period as Pakistan moves further away from FO-based power generation.

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Among major oil marketing companies, Pakistan State Oil (PSO) posted a sharp 19 percent decline in November and a 7 percent fall in July–November. Attock Petroleum Limited (APL) also faced pressure, with a 17 percent drop in November and a 4 percent decline over five months.

In contrast, Hascol saw only a 2 percent dip, while Wafi and Cnergy recorded impressive growth of 8 percent and 9 percent.

PSO maintained the biggest market share in November at 45.4 percent, followed by Gas & Oil (GO) at 10.7 percent.