The sales of oil marketing companies have declined by 4 percent on year-on-year basis to 1.29 million tons during August 2019.On month-on-month basis, the OMC sales dropped by 20 percent as compared to previous month. The decline was witnessed across the products led by drop in black oil and diesel sales.

Retracement in FO sales was noted down 39 percent on MoM and 4 percent on YoY basis amid lower offtake by power sector while HSD sales hit a seven?year low of 407000 tons down 30 percent on MoM and 17 percent MoM basis.

On the other hand, the retail fuel market saw MOGAS sales climb 5 percent on YoY to stand at 634000 tons. On a MoM basis, however, the sales saw a dip of 4 percent.

Overall, in the second month of FY19, industry sales registered at 2.3 million tons, a reduction of 7 percent on YoY basis. While black oil sales have remained relatively muted during the period, major attrition has emanated from 18 percent on YoY drop in HSD sales, Asad Ali, an analyst at BMA Capital said.

The overall market share (M/S) of the key players depicts that PSO has captured the withering HASCOL share to establish itself as the only player with double?digit growth trajectory on YoY basis, he said. Resultantly, PSO's share improved by 8.6ppt and 2.7ppt YoY to 45.9 percent and 42.0 percent in HSD and MOGAS segment, respectively, he added.

Copyright Business Recorder, 2019