11% decrease in petrol sales and a 15% decrease in diesel sales
Vakil Rehman
14 hours ago
The sale of petroleum products in Pakistan is decreasing. This trend is encouraging in the sense that Pakistan will have to reduce oil imports, but on the other hand, the goals of collecting taxes on oil are also affected. I am also pointing out that economic activities are slowing down.
According to the data of the Oil Companies Association Advisory Council, the total sale of petroleum products in December last month was 13 lakh 40 thousand tons, which is 14 percent less than November last month and 11 percent less than December 2021. While this fiscal year If we review the first half of 2022 i.e. July to December 2022, during this period a 19% decrease in the sale of petroleum products has been recorded.
According to Topline Securities, December 2022 has seen the lowest monthly oil sales since the first lockdown in the country due to the coronavirus epidemic in February-March 2020, the main reasons for which include the weather effect.
Generally, oil sales fall in winter especially due to reduced demand for furnace oil due to lower electricity demand, but this time business recession has also been added to this climatic effect. Inflation and Due to economic difficulties, economic activities have slowed down across the country due to which the oil demand is being reduced.
In December, the sale of Petros decreased by 11%, the sale of diesel by 15%, and the sale of furnace oil by 3%.
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