inflation and economic depression; Consumption of petroleum products has reached the level of Corona lockdown

 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 collection of 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 Upline Securities, December 2022 has seen the lowest monthly oil sales since the first lockdown in the country due to the corona virus epidemic in February March 2020, the main reasons of which include the weather effect.

Generally, oil sales fall in winter especially due to reduced demand for furnace oil due to lower demand for electricity, but this time business recession has also been added to this climatic effect. Inflation and Due to the economic difficulties, economic activities have slowed down across the country due to which the demand for oil is being reducedIn the month of December, the sale of petrol has decreased by 11%, the sale of diesel by 15% and the sale of furnace oil by 3%.

According to the data, during the first half of this financial year, the biggest decrease has come in the sale of furnace oil, which is 24% less than the previous year. Running power plants produce less electricity

Apart from this, diesel sales also fell by 23% and petrol sales by 15% during the first half of the year.

In terms of companies, PSO's oil sales have decreased by 23%, Attock Petroleum's sales by 9%, and Shell's sales by 4%.

Experts believe that a 20 percent decline in overall sales of petroleum products is expected during the current financial year.