PSO sales of diesel up by 8% in March 2022

Ibn-e-Ameer

Pakistan State Oil (PSO)’ sale of diesel has seen an increase of up to 8% in March 2022.

However, some other oil companies have witnessed a decline. But PSO saw a major increase in the sale of diesel during March.

PSO is a state-run oil marketing company that is facing a liquidity crunch due to all-time high receivables.

The increase in sales will also lead to higher profits for the company.

At the same time, it will cause price differential claims.

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According to sources, Ogra and the regulator had allocated a total sale of petrol at 748, 613 tons on a proportionate basis.

But PSO’s actual sale was up by 1% to 753,932 metric tons during March.

Out of total sales, PSO sold 329174 metric tons of petrol, registering an increase of 4% compared to the allocation of 316, 452 metric tons.

In the case of diesel, the sale volume of PSO was also up by 8 % in March.

It sold 365,620 metric tons against 365620 metric tons of diesel.

The transport and agriculture sectors use diesel. Harvesting season may be contributing factor to the increase in sale volume.

PSO also supplies furnace oil to the power plants. It sold 153,046 metric tons of HSFO in March.

The total sale of diesel stood at 672, 846 metric tons against the projected sale of 727, 935 metric tons. There is a decline of 8% in the total sale of diesel.

SPL

Shell Pakistan Limited (SPL) also sold 84245 metric tons of petrol against a projection of 77419 tons, recording a hike of 9%.

However, it witnessed a 1% increase in the sale of diesel which stood at 56522 metric tons against 56129 metric ton projection.

Attock Petroleum Limited (APL)

The company had recorded 58,804 metric ton sales of petrol which declined by 2% compared to 60,000 metric tons.

Its sale of diesel also witnessed a major decline of 8% to 56,855 metric tons against the proportionate allocation of 61,935 metric tons.