By Moaaz Manzoor

Pakistan’s overall petroleum, oil and lubricants sales to major sectors fell to 1.316 million metric tons in May 2026, down from 1.599 million metric tons in April, mainly because of lower consumption by the transport, overseas, power and industrial sectors, according to the latest data of the State Bank of Pakistan.

The SBP data on POL energy product sales by sector, available up to May 31, 2026, shows that total POL sales declined by 283,779 metric tons, or 17.7%, on a month-on-month basis. The figure stood at 1,315,645 metric tons in May, down from 1,599,424 metric tons in April.

The decline matters because POL sales reflect fuel demand across key economic segments, including transport, industry, power, government and agriculture. A fall in fuel sales can indicate weaker movement of goods and passengers, lower industrial activity, reduced power-sector fuel use or seasonal shifts in demand.

Transport remained the largest consumer of POL products, accounting for nearly 81% of total sales in May. However, POL sales to the transport sector fell to 1,065,590 metric tons in May from 1,140,625 metric tons in April, showing a decline of 75,035 metric tons, or 6.6%.

The overseas category also recorded a sharp fall, with sales declining to 184,945 metric tons in May from 283,284 metric tons in April. This reflects a drop of 98,339 metric tons, or 34.7%, during the month.

The steepest percentage decline was recorded in the power sector, where POL sales dropped to 6,213 metric tons in May from 88,846 metric tons in April. The fall of 82,633 metric tons indicates a 93% month-on-month decline in fuel sales to the power sector.

Industrial sector sales also weakened, falling to 35,729 metric tons in May from 58,488 metric tons in April, a decline of 22,759 metric tons, or 38.9%. POL sales to the government sector decreased to 22,002 metric tons from 27,678 metric tons, down by 5,676 metric tons.

In contrast, smaller categories showed some recovery from low levels. POL sales to the domestic sector rose to 795 metric tons in May from 233 metric tons in April, while agriculture sector sales increased to 371 metric tons from 270 metric tons.

Over the six-month period shown in the SBP table, overall POL sales were highest in January 2026 at 1,685,244 metric tons and lowest in May 2026 at 1,315,645 metric tons. Sales had stood at 1,491,804 metric tons in December 2025, 1,373,286 metric tons in February and 1,607,718 metric tons in March 2026.

The latest sectoral pattern shows that Pakistan’s POL demand remains heavily dependent on transport activity, while monthly changes in overseas and power-sector consumption can significantly affect the headline number. For businesses and policymakers, the May decline signals weaker fuel offtake across several major sectors and will need to be read alongside industrial output, transport activity, electricity generation mix and import trends.

Credit: INP-WealthPk