Oil sales jump 13pc in July-February.

KARACHI -- The country's overall oil consumption jumped 13 per cent to 12.67 million tonnes in 8MFY21 reflecting improved economic activities as the sales of furnace oil (FO), high-speed diesel (HSD) and petrol posted growth of 36pc, 15pc and 7pc respectively during the period.

Arsalan Hanif at Arif Habib Ltd attributed robust oil sales to resilience displayed by the economy with better agricultural yields, massive growth in sales of two/three/four-wheelers. Besides absence of CNG and strict control on illegal Iranian oil increased the demand for petrol and diesel.

Sales of FO, HSD and petrol stood at over two million tonnes, 4.84m tonnes and 5.37m tonnes, respectively, during 8MFY21 as compared to 1.54m tonnes, 4.21m tonnes and five million tonnes in the same period last year.

Mr Hanif said that total oil sales fell by eight per cent month-on-month to 1.40m tonnes in...