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Pakistan’s oil marketing companies (OMCs) recorded a strong recovery in January 2026, with total fuel sales rising 10% year-on-year and 12% month-on-month, signaling improving transport activity and higher diesel demand, according to Topline Securities.
Total industry sales reached 1.5 million tons in January. This pushed cumulative OMC sales for the first seven months of FY26 to 9.7 million tons, reflecting a 3% increase compared to the same period last year.
Excluding furnace oil, sales stood at 1.4 million tons, up 7% YoY and 9% MoM. On a cumulative basis, ex-furnace oil volumes during 7MFY26 climbed to 9.4 million tons, showing 5% growth.
High-speed diesel remained the largest contributor, with January sales of 664,000 tons, up 11% YoY and 20% MoM. Motor spirit sales rose 3% YoY to 641,000 tons, while furnace oil sales jumped to 102,000 tons on a low base.
“The rebound reflects improved transport fuel demand and higher diesel consumption, while furnace oil remains structurally weak,” Topline Securities noted.
Company-Wise Performance
Pakistan State Oil (PSO) posted January sales of 626,000 tons, up 6% YoY and 17% MoM, with diesel volumes increasing 9% YoY. However, PSO’s motor spirit sales declined 3% YoY.
Attock Petroleum Limited (APL) recorded sales of 134,000 tons, up 2% YoY and a sharp 31% MoM, while diesel volumes remained flat on an annual basis.
WAFI Energy Pakistan emerged as a strong performer, reporting a 20% YoY increase to 122,000 tons, driven mainly by diesel and other fuels. In contrast, Hascol Petroleum saw volumes decline 3% YoY to 49,000 tons, though sales improved 5% MoM.
Fuel sales have been gradually recovering amid stabilizing economic activity and easing inflationary pressures. However, furnace oil demand remains subdued due to reduced reliance on oil-based power generation, with growth largely driven by diesel and motor spirit consumption.
