KARACHI: The country’s total oil sales swelled by 22 per cent in 4MFY22 to 7.85 million tonnes from 6.44 million tonnes as compared to the same period in the last fiscal.

In October 2021, oil sales posted a growth of 17pc to 1.99m tonnes from 1.7m tonnes, figures released by the Arif Habib Limited (AHL) Research said.

The highest growth in sales of 32pc was recorded for furnace oil, to 1.6m tonnes in 4MFY22 from 1.21m tonnes in the same period last fiscal, while diesel witnessed the second highest sales increase of 26pc to 2.93m tonnes from 2.32m tonnes. Petrol sales went up by 13pc to 3.11m tonnes from 2.74m tonnes.

In October, diesel sales posted a 25pc rise to 0.84m tonnes versus 0.67m tonnes while petrol and furnace oil sales registered 12pc growth each to 0.77m tonnes and 0.33m tonnes respectively as compared to 0.69m tonnes and 0.29m tonnes in 4MFY21.

Head of research at AHL Research Tahir Abbas attributed the increase in sales of petroleum products to robust sales of automobiles while that of diesel to intensification of economic and industrial activities.

Diesel sales of 0.84m tonnes in October was the highest since sales of 0.89mn tonnes in May of 2018, said Mr Abbas.

Published in Dawn, November 2nd, 2021