Page 38 - Policy Economic Report_Feb'25
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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Figure 12: Refining Margins ($/bbl)
Source- Argus and OPEC
The Southeast Asia gasoline 92 crack spread against Dubai fell from the five-month high reached in the
previous month. In January gasoline showed the strongest downturn across the barrel in Southeast Asia
with stronger feedstock prices and firm gasoline output within the region weighing on the product’s
performance. The product’s margin averaged $3.85/b in January, down $4.43, m-o-m, and $8.60, y-o-y.
Figure 13: Singapore crack Spreads vs. Dubai ($/bbl)
Source- Argus and OPEC Page | 37
February 2025
