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Retail Holds On

机译：零售保持

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摘要

In the past couple of issues, this column has focused on the price relationship of crude oil and base oil, and its impact on the wholesale price of finished lubricants. The evidence is that the price of base oil and that of finished lubricants track the price of crude, not only when the crude goes up, but also when it goes down.rnThe analysis also showed a lag in how quickly base oil and finished lubricant prices respond to crude price changes. Base oil and wholesale lubricant prices tend to trail and then to overreact to crude price moves, both on the way up and down. Yet interestingly, the price of finished lubricants in the retail class of trade dances to the beat ofrna different drummer.
机译：在过去的两期中，本专栏重点讨论了原油和基础油的价格关系，及其对成品润滑油批发价的影响。有证据表明，基础油和成品润滑油的价格不仅在原油上涨时而且在原油下跌时都追踪原油价格。分析还显示基础油和成品润滑油价格的上涨速度滞后应对原油价格变化。基础油和批发润滑油价格趋于下降，然后对原油价格的上涨或下跌都反应过度。然而，有趣的是，零售类零售产品中成品润滑剂的价格却与其他鼓手的节奏不谋而合。

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