Karachi, June 02, 2020: Pakistan oil sales for May-2020 are likely to increase by 41 percent MoM on resumption of inter-city transport post the relaxations in lockdowns amidst COVID-19 outbreak. That said, impact of COVID-19 still remains visible in volumes with decline of 12 percent YoY expected.
High Speed Diesel (HSD) sales are expected to improve by 74 percent MoM (-3 percent YoY) on the back of demand coming from the transport sector and also from the agriculture sector due to wheat harvesting.
Motor Spirit (MS) sales are also expected to increase by 14 percent MoM. Furnace Oil (FO) volumes are also anticipated to improve by 106 percent MoM given (1) low base of last month and (2) higher demand due to decline in prices.
During 11MFY20, volumes are likely to drop by 15 percent YoY due to overall economic slowdown and increasing impact of COVID-19 outbreak.
PSO sales are likely to increase the most by 58 percent MoM as HSD segment is poised to post 128 percent growth MoM.
HASCOL volumes are likely to rise by 36 percent MoM. The improvement is expected at the behest of 50 percent MoM increase in FO volumes and 52 percent MoM expected rise in HSD volumes.
APL and SHEL volumes are also expected to improve by 18 percent MoM and 3 percent MoM, respectively during the month.
