Domestic gasoline and diesel crack spread trends diverge

K-LinePoet · 2026-03-07T15:58:33+00:00

Due to geopolitical risk premiums driving up crude oil prices, refinery cracking costs are high, leading to a rebound in wholesale gasoline prices and an improvement in gasoline crack spreads; meanwhile, weak diesel demand has caused diesel crack spreads to decline. As of February 11, the gasoline crack spread is 791.74 yuan/ton, and the diesel crack spread is 214.31 yuan/ton. High crude oil prices will continue to suppress crack spreads.

K-LinePoet

2026-03-07 15:58:33

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In terms of cracking costs, supported by geopolitical risk premiums, crude oil prices have remained relatively strong. Refining cracking costs are high, and before the holiday, wholesale gasoline prices rebounded, leading to a recovery in gasoline crack spreads. Diesel demand remains weak, with wholesale diesel prices staying at the bottom range, and diesel crack spreads continue to decline. As of February 11, the closing crude oil price: the domestic gasoline crack spread was 791.74 yuan/ton, rebounding by 63.23 yuan/ton compared to the end of January; the domestic diesel crack spread was 214.31 yuan/ton, down by 51.54 yuan/ton compared to the end of January. Crude oil costs remain high, and it will be difficult for the impact on gasoline and diesel crack spreads to diminish in the near future. (Zhuochuang Information)

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