Lates News

The price difference between gasoline and crude oil has reached the largest single-week increase in history, which is good news for refining companies that have been under pressure due to the high oil prices caused by the Iran conflict. In the northwest region of Europe, the price difference between gasoline and crude oil has risen to over $17 per barrel, an increase of about $25 compared to a week ago, marking the largest increase since the end of 2010 as recorded by the common index. This significant increase comes after a significant decline in the past few weeks. The sharp fluctuations in gasoline prices are mainly due to large fluctuations in the physical cost of crude oil. In early April, Brent spot prices reached a record high, causing the price difference for gasoline (the so-called "crack spread") to turn negative. Now that crude oil prices have fallen, gasoline prices are once again showing an upward trend relative to Brent spot prices.