SunSirs: Crude Oil Prices Decline, While Refined Oil Prices Are Under Pressure in China
January 09 2026 10:22:12 SunSirs (Selena)
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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