Gasoline Market Analysis on September 6

Gasoline Market Analysis on September 6

International crude oil closes

Gasoline price index

On September 6, China's 92 #gasoline price index 8515.75 was lowered by 41.11, or 0.48%; China's 95 #gasoline price index 8809.47 was lowered by 36.80, or 0.42%. Both the 92 #gasoline index and the 95 #gasoline index were lowered, and the price difference between the 92 #gasoline index and the 95 #gasoline index was 297.72.

Gasoline Market Analysis:

Today, China's gasoline market is operating steadily and weakly. Among them, high-end prices in North China and Northwest China have been lowered by 106-112 yuan/ton; prices in South China have been lowered by 50-200 yuan/ton; and low-end prices in Northeast China, Southwest China, and Central China have been lowered by 30-70 yuan/ton; gasoline prices in other regions have been stable. The overall ex-factory prices of local refineries are weak, with low-end prices in Shandong being lowered by 20-37 yuan/ton; Northeast, South and Southwest regions being lowered by 5-100 yuan/ton; Central China 92 #is lowered by 50 yuan/ton; Gasoline prices in other regions are stable. At present, the trading atmosphere in China's gasoline market is light. Crude oil closed down overnight. Purchasing enthusiasm in the middle and lower reaches is weak, and refinery shipments are not good.

market outlook

OPEC+ agreed to extend the production cut of 2.2 million barrels per day until the end of November and consider implementing the production increase plan from December.Crude oil closed down overnight,Bearish guidance on the cost side suppresses the mentality of downstream operators entering the market。In terms of China's gasoline market, demand continues to be sluggish, and the market has a strong wait-and-see atmosphere, with the focus on purchase and sales. In addition, the new round of refined oil price adjustments has shifted from stranded to lowered expectations. Entering a new round of sales cycle, each main unit has no sales pressure, and the confidence to support prices may have improved. On the whole, China's gasoline market is expected to fluctuate within a narrow range in the short term.