Page 32 - Policy Economic Report - Feb 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Table 5: Singapore FOB, refined product prices ($/bbl) in January 2026

Singapore product prices Price ($/b) MoM (%) YoY (%)
change change
-18.5%
Naphtha 59.59 1.3% -15.9%
-15.4%
Premium gasoline (unleaded 95) 72.95 -5.6% -10.8%
-13.5%
Regular gasoline (unleaded 92) 71.42 -5.6% -13.3%
-23.5%
Jet/Kerosene 83.36 -1.2%

Gasoil/Diesel (50 ppm) 82.38 0.2%

Fuel oil (180 cst 2.0% S) 82.01 0.4%

Fuel oil (380 cst 3.5% S) 56.32 7.8%

Source - OPEC

Petroleum products consumption in India

Monthly Review:

• Overall consumption of all petroleum products in January 2026 with a volume of 21.10 MMT
registered a growth of 5.30% on volume of 20.46 MMT in January 2025.

• MS (Petrol) consumption during the month of January 2026 with a volume of 3.51 MMT recorded
a growth of 6.13% on volume of 3.31 MMT in January 2025.

• HSD (Diesel) consumption during the month of January 2026 with a volume of 7.99 MMT recorded
growth of 3.27% on volume of 7.74 MMT in the month of January 2025.

• LPG consumption during the month of January 2026 with a volume of 3.03 MMT registered a
growth of 6.65% over the volume of 2.84 MMT in the month of January 2025.

• ATF consumption during January 2026 with a volume of 0.828 MMT registered a growth of 5.50%
over the volume of 0.784 MMT in January 2025.

• Bitumen consumption during January 2026 with a volume of 0.797 MMT registered growth of
3.94% over volume of 0.767 MMT in the month of January 2025.

• Kerosene consumption registered growth of 8.58% during the month of January 2026 as
compared to January 2025.

February 2026 Page | 31