Page 29 - Policy Economic Report - December 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Table 5: Singapore FOB, refined product prices ($/bbl) in November 2025

Singapore product prices Price ($/b) MoM (%) YoY (%)
change change
-11.2%
Naphtha 62.11 0.1% -3.7%
-0.3%
Premium gasoline (unleaded 95) 81.43 2.2% 4.4%
Regular gasoline (unleaded 92) 78.69 2.1% 3.9%
Jet/Kerosene 93.37 6.8% 2.0%
Gasoil/Diesel (50 ppm) 92.62 4.7% -20.2%
Fuel oil (180 cst 2.0% S) 90.69 3.9%

Fuel oil (380 cst 3.5% S) 54.88 -6.7%

Source - OPEC

Petroleum products consumption in India

Monthly Review:

• Overall consumption of all petroleum products in November 2025 with a volume of 21.27 MMT
registered de-growth of 2.98% on volume of 20.66 MMT in November 2024.

• MS (Petrol) consumption during the month of November 2025 with a volume of 3.52 MMT
recorded a growth of 2.59% on volume of 3.43 MMT in November 2024.

• HSD (Diesel) consumption during the month of November 2025 with a volume of 8.55 MMT
recorded growth of 4.73% on volume of 8.17 MMT in the month of November 2024.

• LPG consumption during the month of November 2025 with a volume of 2.86 MMT registered a
growth of 7.41% over the volume of 2.67 MMT in the month of November 2024.

• ATF consumption during November 2025 with a volume of 0.788 MMT registered a growth of
5.37% over the volume of 0.748 MMT in November 2024.

• Bitumen consumption during November 2025 with a volume of 0.913 MMT registered growth of
28.95% over volume of 0.708 MMT in the month of November 2024.

• Kerosene consumption registered growth of 19.21% during the month of November 2025 as
compared to November 2024.

November 2025 Page | 28