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Commodities

Crude Oil Price Surge Drives Up Refined Oil Prices in Northeast China

Guavy AI Editorial Team
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Oil
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Rising international crude oil prices have pushed up domestic refined oil prices in Northeast China. On August 18, independent refineries in the region increased their gasoline quotes to between 8,600 and 8,700 RMB/tonne for 92# gasoline and 8,700 to 8,800 RMB/tonne for 95# gasoline. Diesel prices also rose, with quotes ranging from 7,600 to 7,700 RMB/tonne.

The increase in crude oil prices provided a cost-side boost to the refineries, which raised their prices accordingly. The spot prices of gasoline and diesel showed strength, offering moderate support to the respective markets.

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