Crude Oil Prices: SPRC's primary business involves refining crude oil. Fluctuations in crude oil prices directly impact SPRC's input costs and profitability.

Refining Margins: The difference between the price of refined products (gasoline, diesel, etc.) and the price of crude oil is crucial. Wider refining margins boost SPRC's earnings.

Demand for Refined Products: Economic growth, seasonal factors (driving season), and consumer behavior influence the demand for gasoline and other refined products, affecting SPRC's sales volume and pricing power.

Government Regulations: Environmental regulations, fuel quality standards, and tax policies can impact SPRC's operating costs and the market for its products.

Geopolitical Events: Political instability, conflicts, or trade disputes in oil-producing regions can disrupt supply chains and affect crude oil prices, indirectly impacting SPRC.

Exchange Rates: As SPRC likely deals with international transactions involving crude oil and refined products, fluctuations in the Thai Baht against other currencies can affect its costs and revenues.

Company-Specific Factors: Operational efficiency, refinery maintenance schedules, debt levels, and management decisions all influence investor sentiment and the stock price.

Investor Sentiment: Overall market conditions, investor confidence in the energy sector, and speculative trading can drive short-term price movements in SPRC's stock.

Economic Indicators: Economic growth rates, inflation, and interest rates in Thailand and globally influence demand for refined products and investor appetite for riskier assets like stocks.