On Wednesday, the closing price of the international crude oil market fell. On January 8th, the price of refined oil in the northwest region decreased. The overall price of 92# gasoline was 7,200-7,300 RMB/ton, the price range of 95# gasoline was 7,300-7,400 RMB/ton, and the price range of diesel was 6,000-6,100 RMB/ton.

The decline in international crude oil prices has reduced the production cost of refined oil products. The diesel price range in the northwest region is 6,000-6,100 RMB/ton, indicating a downward trend in prices, suggesting sufficient market supply or weak demand. Combined with the decrease in crude oil raw material costs, it is expected that short-term spot prices will face downward pressure, with negative factors dominating.

The decline in crude oil prices directly dragged down gasoline production costs. The prices of 92# and 95# gasoline in the northwest region dropped to 7,200-7,300 RMB/ton and 7,300-7,400 RMB/ton, respectively, resulting in an overall price decline. This reflects insufficient terminal demand or increased inventory, resulting in an oversupply situation in the spot market, which is expected to put short-term price pressure and have a significant negative impact.

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