Page 45 - FIPI - Policy & Economic Report May 2026
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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
but continued to support the region, as Singapore middle distillate stocks registered a significant monthly
decline. The Singapore gasoil crack spread against Dubai averaged $73.03/b, up $9.39/b, m-o-m, and
$60.28/b, y-o-y.
Table 7: Singapore FOB, refined product prices ($/bbl) in April 2026
Singapore product prices Price ($/b) MoM (%) YoY (%)
change change
Naphtha 122.11 5.0% 96.4%
Premium gasoline (unleaded 95) 133.12 -2.8% 73.6%
Regular gasoline (unleaded 92) 127.80 -0.7% 69.7%
Jet/Kerosene 199.80 1.9% 147.4%
Gasoil/Diesel (50 ppm) 191.69 -0.7% 135.3%
Fuel oil (180 cst 2.0% S) 176.18 -7.5% 119.8%
Fuel oil (380 cst 3.5% S) 101.64 -5.7% 56.8%
Source: OPEC
Petroleum products consumption in India
Monthly Review:
? Overall consumption of all petroleum products in April 2026 with a volume of 19.29 MMT
registered de-growth of 4.61% on volume of 20.23 MMT in April 2025.
? MS (Petrol) consumption during the month of April 2026 with a volume of 3.68 MMT recorded a
growth of 6.80% on volume of 3.45 MMT in April 2025.
? HSD (Diesel) consumption during the month of April 2026 with a volume of 8.33 MMT recorded
growth of 0.86% on volume of 8.26 MMT in the month of April 2025.
? LPG consumption during the month of April 2026 with a volume of 2.21 MMT registered de-
growth of 13.07% over the volume of 2.55 MMT in the month of April 2025.
? ATF consumption during April 2026 with a volume of 0.771 MMT registered de-growth of 0.09%
over the volume of 0.772 MMT in April 2025.
? Bitumen consumption during April 2026 with a volume of 0.598 MMT registered de-growth of
30.65% over volume of 0.862 MMT in the month of April 2025.
? Kerosene consumption registered growth of 8.71% during the month of April 2026 as compared
to April 2025.
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