LAHORE  -   The furnace oil sales continued downward trajectory in sales growth, wherein during Oct 2018 sales of FO is likely to post decline of 74 percent YoY to 235k tons due to availability of alternate power generation fuels like coal and RLNG. This will probably drag down overall sales volume during Oct 2018 to 1.54m tons, down 38 percent YoY.

Excluding FO, oil sales in country is expected to come down 18 percent YoY to 1.3m tons. In white oil segment, both HSD and MS are likely to fall by 20 percent and 10 percent YoY during Oct 2018, where fall in former could be attributed to continued smuggling from Iran and sharp rise in HSD prices by 34 percent YoY to ~Rs107/liter. While latter declined due to some infrastructure and storage related issues (maintenance). However, increase of 26 percent YoY in petrol prices can also be attributed to said decline. Attock Petroleum (APL) gained 1.4ppts YoY in its market share of MS oil during 4MFY19 to 9.6 percent, while PSO and Hascol are likely to lose 4.1 and 2.6 ppts YoY.