Retail price cap for refined oil products may see the largest increase in nearly four years

Golden Ten Futures reported on March 9 that, due to the recent escalation of geopolitical tensions and heightened market concerns, international crude oil prices have been rising continuously. During this period (from 24:00 on February 24 to 24:00 on March 9), the international crude oil price center shifted upward, reaching the highest level since September 2022. The crude oil change rate remained positive and continued to rise. It is expected that at 24:00 on March 9, the domestic retail price cap for refined oil products may face an upward adjustment. This adjustment would be the largest increase since 24:00 on March 17, 2022. In the short term, under the disturbance of geopolitical situations, crude oil prices may continue to show a strong trend. At today's opening, European and American crude oil futures prices both surged above $100 per barrel. Based on a crude oil price of $100 per barrel, the next round is expected to start with a positive opening, with the initial day's increase estimated at around 1,500 yuan per ton. The beginning of the cycle is expected to see a wide range of upward adjustments, with the price adjustment window opening on March 23, 2026.