Pakistan Faced 16% Decrease in Petroleum Product Sales.
Pakistan’s Gas Guzzlers Hit the Brakes: Petroleum Sales Plummet 16%
Hold onto your helmets, petrolheads, because Pakistan’s love affair with petroleum products is cooling off fast! 📉
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A recent report by the Oil Companies Advisory Council (OCAC) reveals a staggering 16% drop in petroleum sales during the first five months of the current fiscal year compared to the same period last year. 🤯
That’s not all. The numbers paint a grim picture:
- 5.41 million metric tonnes of petroleum products were sold between July and November 2023, down from 6.40 million tonnes in the same period last year. ⛽️➡️📉
- November 2023 alone saw an 11% dip compared to November 2022, with sales plummeting from 1.54 million tonnes to 1.37 million tonnes. 📅📉
Let’s break it down further:
- Furnace oil: 4.820 million tonnes consumed. 🔥
- High-speed diesel: 26.460 million tonnes chugged down. 🚚💨
- Petrol: 29.970 million tonnes pumped. 🚗💨
- Other petroleum products: 3.240 million tonnes used. 🔌
So, what’s behind this sudden slowdown? 🧐 Well, buckle up for a bumpy ride:
- Price shock!: Remember those record-breaking petrol prices that hit Rs 300 last year? Yeah, those left a dent in wallets and a mark on consumer behavior. 💸🤯
- Economic slowdown: With inflation biting and budgets tightening, people are likely cutting back on non-essential fuel guzzling. 📉🚗
- Alternative fuels?: Could the rise of electric vehicles and other greener options be stealing some market share? 🤔🌳
Whatever the reasons, one thing’s clear: Pakistan’s petroleum party is on pause. 🛑 Will it be a temporary pit stop or a permanent shift in gear? Only time will tell. ⏱️
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