International crude oil prices closed higher on Tuesday, strengthening cost-side support. On August 12, independent refineries in the Northeast quoted 92# and 95# gasoline at 8,500–8,600 RMB/tonne and 8,600–8,700 RMB/tonne, respectively; the rise in spot prices provided moderate support for the gasoline market.
Supported by the rise in international crude oil, independent refineries in the Northeast quoted diesel at 7,500–7,600 RMB/tonne on August 12; the upward movement in spot prices offered moderate support for the diesel market.
With cost-side support from the Tuesday rise in international crude oil, spot prices for gasoline from independent refineries in the Northwest increased on August 12. Prices ranged from 8,800–8,900 RMB/tonne for 92# gasoline and 8,900–9,000 RMB/tonne for 95# gasoline; the strong spot market provided moderate support for gasoline prices.
Driven by rising costs due to higher international crude oil prices, spot quotes for diesel from independent refineries in the Northwest rose to the 7,500–7,600 RMB/tonne range on August 12; strong market support provided moderate backing for diesel prices.
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