Diesel: Sales surge to 18-month high
Petrol sales jumped 25% in May with CNG shortages while diesel sales rose to 6.2 million tons.
KARACHI:
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.
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.