Shandong Refineries' Gasoline and Diesel Product-to-Sales Ratios Rise to 105%, Up 11 Percentage Points Over Past Week

According to Jin10 Futures on July 21, product-to-sales ratios for Shandong independent refineries' gasoline and diesel reached 105% over the past week, up 11 and 6 percentage points respectively from the prior week. Gasoline prices surged 527 yuan per ton, while diesel prices jumped 987 yuan per ton, driven by rising crude oil costs amid escalated Middle East geopolitical tensions.

With refiner margins improving, downstream purchasing increased significantly. Shandong's petroleum product market saw heightened trading activity, with product-to-sales ratios exceeding balanced levels, enabling refiners to reduce inventory positions.