Oil sales rise

The country’s oil marketing companies (OMCs) recorded sales of 1.14 million tonnes in February, up 2pc year-on-year (YoY) while down 18pc month-on-month (MoM). The MoM decline was majorly due to fewer working days in February. This takes total sales for 8MFY25 to 10.55m tonnes, reflecting a 4pc YoY increase compared to 10.18m tonnes in 8MFY24. Myesha Sohail of Topline Securities said petrol sales saw a 2pc YoY rise, while a 11pc MoM decrease to 556,000 tonnes in February. Similarly, high-speed diesel (HSD) sales fell 4pc YoY and 29pc MoM to 428,000 tonnes. Furnace oil sales rose 7pc YoY but fell 9pc MoM to 53,000 tonnes.