Pakistan’s OMCs report 10% YoY sales drop in November 2025, but 5MFY26 sees 1% growth

Pakistan’s Oil Marketing Companies (OMCs) recorded a 10% decline in sales YoY, reaching 1.4 million tons in November 2025, a 5% MoM drop from October 2025. The decrease is attributed to a high base in November 2024, when sales peaked, driven by high sales of High-Speed Diesel (HSD) and a stabilising economy, according to data compiled by Topline Securities.  

In total, OMCs sales for the first five months of FY26 stand at 6.81 million tons, reflecting a modest 1% increase from 6.75 million tons in the same period last year.

Excluding Furnace Oil (FO) sales, November 2025 saw 1.39 million tons of sales, marking a 9% YoY and 5% MoM decline. For the first five months of FY26, sales excluding FO totaled 6.71 million tons, a 4% increase YoY.

Motor Spirit (MS) prices remained stable at Rs 265 per liter, while HSD prices increased by 3%, rising from Rs 273.02 per liter in October to Rs 281.44 per liter in November. MS sales fell by 9% YoY and 7% MoM to 608,000 tons, and HSD sales declined 13% YoY and 4% MoM to 683,000 tons. FO sales also dropped sharply by 32% YoY and 9% MoM to 25,000 tons, with CYNERGY leading FO sales with 16,000 tons.

Among the listed OMCs, Attock Petroleum (APL) recorded sales of 109,000 tons in November 2025, down 17% YoY and 12% MoM, mainly due to lower HSD sales. APL’s market share in MS and HSD decreased by 17bps and 79bps, respectively. 

Pakistan State Oil (PSO) saw a 19% YoY drop in sales but remained stable MoM at 643,000 tons. PSO’s market share in MS and HSD rose to 39.30% and 48.08%, respectively, increasing its overall market share from 42.95% in October to 45.36% in November.

Wafi Energy recorded an 8% YoY increase in sales, reaching 112,000 tons, although its sales dropped by 8% MoM. HASCOL’s sales declined by 2% YoY and 19% MoM, totaling 34,000 tons.

The government has set a Petroleum Development Levy (PDL) collection target of Rs 1.47 trillion for FY26, with Rs 621 billion already collected in the first five months of the fiscal year. The brokerage firm forecasted that oil sales are expected to grow by 7-10% in FY26.