SunSirs: Rising Crude Oil Prices Push Up Refined Oil Prices

On Friday, the closing price of the international crude oil market rose. On March 30th, the price of refined oil in the northwest region increased. The overall price of 92# gasoline was 10,100-10,200 RMB/ton, the price range of 95# gasoline was 10,200-10,300 RMB/ton, and the price range of diesel was 8,700-8,800 RMB/ton.

The closing price of the international crude oil market has risen, and as the main raw material for gasoline, the rising cost directly drives up the spot price of refined oil in the northwest region. The price range for 92# gasoline is 10,100-10,200 RMB/ton, while the price range for 95# gasoline is 10,200-10,300 RMB/ton, indicating tight supply or strong demand in the spot market. This impact is a significant positive, and it is expected that spot prices may further rise in the short term.

The rise in international crude oil prices has led to an increase in diesel production costs, causing the spot price range for diesel in the northwest region to rise to 8,700-8,800 RMB/ton. As a key input factor, the rise of crude oil has strengthened the bullish sentiment in the diesel spot market, reflecting stable terminal demand and refinery cost pressures. This impact is a significant positive, and spot prices may continue to be supported by the trend of crude oil.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.