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Raffinate is a C4 hydrocarbon stream remaining after butadiene and isobutylene extraction from the mixed C4 cracker fraction, used predominantly as a feedstock source for MTBE synthesis and alkylation gasoline blending. Crude oil and C4 stream feedstock costs, MTBE and fuel blending sector demand, and regional refinery and cracker capacity all feed into the price.
Global raffinate prices tracked close to the USD 0.46 to USD 0.58 per KG range projected for 2026, as crude firming and MTBE demand supported the tone. US prices averaged USD 0.48 per KG in Q1 2026, up 9.1 percent from Q4 2025, as Middle East Strait of Hormuz disruptions raised crude oil benchmarks and C4 stream value sharply while pre-season MTBE synthesis and spring gasoline blending procurement supported consistent buying. China's large C4 stream access kept it the most affordable source, while Germany remained the highest-cost reporting region.
Raffinate prices held a firm tone through August 2026, tracking close to the Q1 2026 levels across all tracked regions, as elevated crude oil benchmarks and steady MTBE and fuel blending demand continued to support the market.
The balance of supply and demand for raffinate through the rest of 2026 leans cautiously firm. Crude oil benchmarks recovered sharply in Q1 2026 from Middle East Strait of Hormuz supply disruptions. MTBE and fuel blending demand is improving with recovering refinery throughput and gasoline demand.
The main upside risk is a sustained crude oil price recovery alongside MTBE and alkylate production demand expansion. The main downside risk is continued crude oil softness and growing electric vehicle adoption that reduces long-term gasoline blending component demand.
| Region | 2026 Price Range (USD/KG) | Outlook |
| Global Average | 0.46 - 0.58 | Crude firming and MTBE demand support the tone |
| United States | 0.44 - 0.56 | Steady MTBE and alkylation demand holds it firm |
| China | 0.36 - 0.48 | Large C4 stream access keeps it the most affordable |
| Germany | 0.58 - 0.72 | High processing and energy costs keep it the most expensive |
| India | 0.46 - 0.58 | Growing MTBE and fuel blending demand holds a firm middle |
US raffinate prices averaged USD 0.48/KG in Q1 2026, up 9.1% from USD 0.44/KG in Q4 2025. Middle East Strait of Hormuz disruptions raised crude oil benchmarks and C4 stream value sharply. Pre-season MTBE synthesis and spring gasoline blending procurement supported consistent buying through the quarter.
Why did the price of Raffinate change in Q1 2026 in the United States?
Strait of Hormuz disruptions raised crude oil benchmarks and C4 stream values sharply. Pre-season MTBE synthesis and spring gasoline blending procurement lifted buying. Higher freight and insurance premiums elevated the landed cost of imported C4 streams.
Chinese raffinate prices averaged USD 0.41/KG in Q1 2026, up 7.9% from USD 0.38/KG in Q4 2025, the lowest among the tracked markets. Post-Lunar New Year MTBE production and fuel blending restocking lifted buying. Firmer domestic crude and C4 costs raised the production floor despite large domestic refinery C4 availability.
Why did the price of Raffinate change in Q1 2026 in China?
Post-holiday MTBE production and fuel blending restocking lifted buying from domestic derivative producers. Firmer domestic crude feedstock costs raised the C4 stream production value. Large domestic refinery and cracker C4 access kept China the most affordable source despite the quarterly recovery.
German raffinate prices averaged USD 0.62/KG in Q1 2026, up 10.7% from USD 0.56/KG in Q4 2025, the highest among the tracked markets. Firmer crude and energy costs elevated European C4 stream production values. Recovering MTBE and isobutylene derivative demand maintained consistent buying.
Why did the price of Raffinate change in Q1 2026 in Germany?
Firmer crude and energy costs elevated the C4 stream production value in European crackers and FCC units. Middle East Hormuz disruptions added import premiums to crude feedstock costs. Recovering MTBE and isobutylene derivative demand maintained consistent procurement from downstream processors.
Indian raffinate prices averaged USD 0.50/KG in Q1 2026, up 8.7% from USD 0.46/KG in Q4 2025. Growing MTBE and fuel blending demand supported buying. Firmer import-linked crude costs raised the C4 stream production value through the quarter.
Why did the price of Raffinate change in Q1 2026 in India?
Growing MTBE production and fuel blending demand lifted C4 stream procurement. Firmer import-linked crude costs raised the C4 production value. Strait of Hormuz freight premiums elevated the landed cost of imported raffinate and C4 streams.
US raffinate prices averaged USD 0.44/KG in Q4 2025, recovering from the Q3 low. Fuel blending and MTBE production demand supported buying. Firmer crude benchmarks held the C4 stream production value near USD 0.44/KG.
Why did the price of Raffinate change in Q4 2025 in the United States?
Fuel blending and MTBE production demand maintained consistent buying from the C4 derivative sector. Firmer crude benchmarks held the production value floor. The market recovered from the Q3 low near USD 0.44/KG.
Chinese raffinate prices averaged USD 0.38/KG in Q4 2025, recovering from the H1 low. MTBE and fuel blending sector demand and firmer domestic crude costs supported the recovery near USD 0.38/KG.
Why did the price of Raffinate change in Q4 2025 in China?
MTBE and fuel blending sector demand supported buying from domestic derivative producers. Firmer domestic crude costs raised the C4 production value floor. The market recovered from the H1 low near USD 0.38/KG.
German raffinate prices averaged USD 0.56/KG in Q4 2025, recovering from the Q3 level. MTBE and alkylation demand and firming crude costs supported the recovery near USD 0.56/KG.
Why did the price of Raffinate change in Q4 2025 in Germany?
MTBE and alkylation demand supported procurement from downstream processors. Firming crude costs maintained the C4 stream production value. The market recovered from the Q3 level near USD 0.56/KG.
Indian raffinate prices averaged USD 0.46/KG in Q4 2025, recovering on the quarter. Growing fuel blending and MTBE demand and firmer crude import costs supported the recovery near USD 0.46/KG.
Why did the price of Raffinate change in Q4 2025 in India?
Growing fuel blending and MTBE demand supported consistent buying. Firmer crude import costs raised the C4 production value floor. The market recovered to USD 0.46/KG from the H1 low.
Global raffinate prices declined through H1 2025 before recovering through H2 and surging in Q1 2026. The average fell from USD 0.473/KG in Q1 2025 to USD 0.460/KG in Q2 and USD 0.450/KG in Q3, then recovered to USD 0.460/KG in Q4 and USD 0.503/KG in Q1 2026, a net gain of about 6.3% over the window. Crude oil benchmark cycles and C4 derivative demand dynamics drove the H1 softening and H2 recovery.
| Quarter | Price (USD/KG) | QoQ Change | Direction |
| Q1 2026 | 0.503 | +9.3% | ↑ Rising |
| Q4 2025 | 0.460 | +2.2% | ↑ Rising |
| Q3 2025 | 0.450 | -2.2% | ↓ Falling |
| Q2 2025 | 0.460 | -2.7% | ↓ Falling |
| Q1 2025 | 0.473 | - | - Stable |
| Q2 2026 | In Progress | - | - In Progress |
Raffinate prices declined through H1 2025 before recovering through H2 on firmer crude benchmarks. The global average opened at USD 0.473/KG in Q1 and closed near USD 0.460/KG in Q4, a full-year decline of about 2.7%. Crude oil softness reduced the C4 stream production value in H1, while H2 MTBE and fuel blending demand recovery and firmer crude costs supported the partial recovery.
US prices fell from about USD 0.48/KG in Q1 2025 to USD 0.44/KG by Q4, a decline of 8.3%. Crude oil softness and weak MTBE economics drove the H1 decline before fuel blending demand supported the H2 recovery.
Chinese prices firmed from roughly USD 0.35/KG in Q1 2025 to USD 0.38/KG by Q4, a gain of 8.6%, the strongest in the dataset. Growing MTBE and fuel blending demand drove the consistent H2 firming despite the H1 crude softness.
German prices fell from about USD 0.62/KG in Q1 2025 to USD 0.56/KG by Q4, a decline of 9.7%, the steepest in the dataset. Crude oil softness and weak European MTBE demand weighed on the market. Germany maintained the highest price level throughout.
Indian prices firmed from roughly USD 0.44/KG in Q1 2025 to USD 0.46/KG by Q4, a gain of 4.5%. Growing MTBE and fuel blending demand supported the H2 firming. India held a firm and growing middle range through the year.
Expert Market Research: Your Source for Real-Time Raffinate Price Intelligence
Expert Market Research tracks raffinate prices continuously across every major producing and consuming region. The team traces causation through crude oil and C4 stream economics, MTBE and alkylation sector demand cycles, and refinery and cracker operating rates. Contact Expert Market Research today for raffinate pricing data, bespoke market analysis, and strategic procurement advisory.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
MTBE synthesis as a gasoline octane enhancer takes the largest share, followed by isobutylene recovery, alkylation unit feed for high-octane alkylate production, and direct gasoline blending as a high-value C4 component.
The Q1 2026 average was USD 0.48/KG in the United States, USD 0.41/KG in China, USD 0.62/KG in Germany, and USD 0.50/KG in India. Germany remains the highest-priced market.
The global average fell from USD 0.473/KG in Q1 2025 to about USD 0.460/KG in Q4, a full-year decline of around 2.7%. H1 crude oil softness drove the decline before H2 MTBE and fuel blending demand recovery supported partial firming.
Crude oil benchmark softness reduced the C4 stream production value from refinery and cracker operations. Weak MTBE and fuel blending economics limited downstream procurement. Adequate C4 stream availability from high refinery operating rates maintained a well-supplied market.
The global average is expected in the USD 0.46 to 0.58/KG range for the rest of 2026, with recovery on firmer crude benchmarks and improving MTBE and alkylation sector demand.
Germany sits highest on energy and processing costs, the United States and India hold a firm middle on MTBE and fuel demand, and China prices lowest on large domestic refinery and cracker C4 stream availability.
This report is updated monthly. For real-time pricing intelligence, contact the Expert Market Research team directly.
Prices respond mainly to crude oil benchmarks, C4 stream availability from refinery throughput, and MTBE and alkylation derivative demand. Middle East supply disruptions and seasonal gasoline blending cycles are key near-term signals.
North America, Europe, and Asia Pacific host the largest refinery and steam cracker C4 stream production. Any crude oil or refinery throughput change ripples across raffinate markets within one to two quarters.
Buyers can use quarterly trends and forecasts to time MTBE and alkylation feedstock contracts, build cover when crude oil signals tightening, and monitor refinery operating rates as the primary C4 stream availability signal.
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