High speed diesel sales surged to an 18-month high in May due to additional demand from the agriculture sector amid start of the Kharif season, according to a BMA Capital research note.
Surge in diesel along with a spike in sales of petrol, surged total oil sales by 24% for the outgoing month on a monthly basis, adds the note citing provisional numbers.
Petrol sales jumped 25% in May with CNG shortages contributing to the increased sale while diesel sales rose to 6.2 million tons. Moreover, increase in demand of furnace oil by 8% can be linked to the recently released deferred payments on account of circular debt by the government.
Published in The Express Tribune, June 9th, 2012.
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