Karachi: Oil Sales in Pakistan declined by 5% as compare to the previous year sales.
Oil sales in Pakistan reached to 24.593m tonnes in 2017-18 as compare to 25.948m tonnes in 2016-17. However, it is due to the 27% decline in furnace oil sales. The significant drop in sales came after five years when the industry observed the 4% decline in FY12. Oil Companies Advisory Council (OCAC) revealed that furnace oil sales dropped from 9.614m to 7m tonnes.
Earlier, government put a ban on the usage of furnace oil for the power production during winters. However, it is due to the availability of RLNG and the high generation costs.
However, car sales in Pakistan are significantly increasing despite of rise in oil prices in the country. Different automobile manufacturers in Pakistan have expanded the costs on their autos in a previous couple of months. According to some financial analysts, the devaluation of Pakistani Rupee is the primary reason of rise in prices.
Regardless of these cost builds, auto deals have kept on developing. Vehicle deals went up by 6,741 units in total in March, contrasted with the deals from February. In general, 153,051 units of motorcycles, three-wheelers, and different vehicles of various classifications were sold amid the most recent month when contrasted with the 146,310 units sold a month prior to that.