Page 32 - Policy Economic Report_Jan 25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

The Singapore gasoil crack spread eased with softening East-West arbitrage economics. The Singapore
gasoil crack spread against Dubai averaged $15.49/b, down by 89?, m-o-m, and by $4.58, y-o-y.

Table 5: Singapore FOB, refined product prices ($/bbl) in December 2024

Singapore product prices Price ($/b) MoM (%) YoY (%)
change change
-4.4%
Naphtha 69.50 -0.6% -7.0%
-6.8%
Premium gasoline (unleaded 95) 84.88 0.3% -13.6%
-10.7%
Regular gasoline (unleaded 92) 81.32 3.0% -9.2%
1.4%
Jet/Kerosene 87.81 -1.8%

Gasoil/Diesel (50 ppm) 88.77 -0.4%

Fuel oil (180 cst 2.0% S) 88.32 -0.7%

Fuel oil (380 cst 3.5% S) 67.90 -1.2%

Source- OPEC

Petroleum products consumption in India

Monthly Review:

? Overall consumption of all petroleum products in December 2024 with a volume of 20.67 MMT
registered a growth of 3.06% on volume of 20.05 MMT in December 2023.

? MS (Petrol) consumption during the month of December 2024 with a volume of 3.31 MMT
recorded a growth of 10.79% on volume of 2.99 MMT in December 2023.

? HSD (Diesel) consumption during the month of December 2024 with a volume of 8.06 MMT
recorded growth of 5.94% on volume of 7.61 MMT in the month of December 2023.

? LPG consumption during the month of December 2024 with a volume of 2.78 MMT registered
growth of 5.81% over the volume of 2.63 MMT in the month of December 2023.

? ATF consumption during December 2024 with a volume of 0.782 MMT registered a growth of
8.72% over the volume of 0.720 MMT in December 2023.

? Bitumen consumption during December 2024 with a volume of 0.792 MMT registered de-growth
of 0.29% over volume of 0.794 MMT in the month of December 2023.

? Kerosene consumption registered de-growth of 13.90% during the month of December 2024 as
compared to December 2023.

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