Gasoline: limited operation of operators on the first day of price reduction

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230516	America	WTI	70.86	-0.25
20230516	The United Kingdom	Brent	74.91	-0.32

 

Gasoline price index

On May 17, China's gasoline price index fell 46.02, or 0.53%, to 8708.34, while China's gasoline price index fell 52.03, or 0.58%, to 8992.15. The 9-month gasoline index and the 9-month gasoline index were both downgraded, and the price difference between the 9-month gasoline index and the 9-month gasoline index was 283.80.

 

Gasoline market analysis:

Today, the wholesale price of gasoline in China has been reduced in some areas, among which the prices of gasoline in North China and Northwest China, as well as those in Southwest and Northeast China have been reduced by 20-200 yuan per ton, mostly concentrated in high-end prices. The price of gasoline in South China, Central China, East China, southwest and northeast China fluctuates. The ex-factory prices of geo-refinery remained stable in most places, but the prices of gasoline in Shandong Province were reduced by 90 yuan per ton. At present, the transaction in China's gasoline market is general, the first day of price limit reduction is limited, the stock is mainly eliminated, the demand remains low, the delivery speed of refineries is slow, and there is some room for negotiation. On the whole, the market does not have enough room for promotion, and the purchase and sale is weak.

 

May 17 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 5.16	Price 5.17	Rise and fall
North China region	92#	8580-9000	8560-8800	-40/-200
	95#	8800-9300	8760-9100	-40/-200
South China	92#	8700-9100	8700-9100	0/0
	95#	8900-9400	8900-9400	0/0
Central China	92#	8600-9000	8600-9000	0/0
	95#	8750-9200	8750-9200	0/0
East China region	92#	8500-9000	8500-9000	0/0
	95#	8700-9100	8700-9100	0/0
Northwestern region	92#	8500-9650	8500-9470	0/-180
	95#	8700-10450	8700-10030	0/-420
Southwest China	92#	8700-9120	8700-9100	0/-20
	95#	8900-9350	8900-9350	0/0
Northeast China	92#	8500-8950	8480-8950	-20/0
	95#	8800-9400	8800-9400	0/0

 

The ex-factory price of gasoline refinery on May 17 (RMB / ton)
Area	Gasoline model	Price 5.16	Price 5.17	Rise and fall
Shandong area	92#	8160-8500	8070-8500	-90/0
	95#	8260-8660	8170-8660	-90/0
North China region	92#	8270-8300	8270-8300	0/0
	95#	8370-8400	8370-8400	0/0
Central China	92#	8480-8480	8480-8480	0/0
	95#	8680-8680	8680-8680	0/0
East China region	92#	8230-8300	8230-8300	0/0
	95#	8380-8450	8380-8450	0/0
Northwestern region	92#	8100-8400	8100-8400	0/0
	95#	8200-8600	8200-8600	0/0
Northeast China	92#	8550-8550	8550-8550	0/0
	95#	8750-8750	8750-8750	0/0

 

Future forecast

From a macro point of view, April data released by the National Bureau of Statistics show that the total volume of retail sales of consumer goods increased by 18.4% compared with the same period last year, and the added value of industries above the national scale increased by 5.6% compared with the same period last year. In terms of international crude oil, the US economic data is lower than expected, coupled with the lower-than-expected growth of industrial output and retail sales in China in April, but the refinery processing volume data is better, the international crude oil price fell slightly, and the international crude oil news surface support is insufficient. From the perspective of supply and demand, the current stability of supply is superimposed by the low demand in the gasoline market, and the gasoline market in China remains weak. However, before the implementation of the price limit for refined oil products, the market has already consumed some of the decline. Taken together, the price of gasoline in China is expected to decline narrowly in the short term.

 

Maximum retail price list of gasoline and diesel in provinces, autonomous regions, cities and central cities

Since 24:00 on May 16, 2023, the prices of gasoline and diesel in China (the same below) will be reduced by RMB380,365 per ton respectively. After the adjustment, the maximum retail prices of gasoline and diesel in all provinces (autonomous regions and municipalities) and central cities are shown in the attached table. The date of the price adjustment will be 24:00 on May 16, 2023, the first working day in China since the price adjustment was announced by the National Development and Reform Commission.

 

Schedule

Maximum retail price of gasoline and diesel in provinces, autonomous regions, cities and central cities

Unit: yuan / ton

	I. areas with one province and one price
	Gasoline (standard)	Diesel oil (standard)
Beijing	9275	8255
Tianjin	9240	8220
Hebei Province	9240	8220
Shanxi province	9310	8275
Liaoning province	9240	8220
Jilin Province	9240	8220
Heilongjiang province	9240	8220
Shanghai	9255	8225
Jiangsu Province	9295	8260
Zhejiang Province	9295	8275
Anhui province	9290	8270
Fujian Province	9315	8285
Jiangxi province	9295	8280
Shandong province	9250	8230
Hubei province	9265	8245
Hunan Province	9305	8305
Henan province	9260	8240
Hainan province	9385	8355
Chongqing	9455	8430
Guangdong province	9320	8290
Guangxi Zhuang Autonomous region	9385	8355
Ningxia Hui Autonomous region	9245	8220
Gansu province	9225	8240
Xinjiang Uygur Autonomous region	9020	8115
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	9255	8235
Chengdu city	9460	8455
Guiyang city	9420	8380
Kunming City	9450	8410
Xi'an city	9225	8230
Xining City	9205	8265

                                                                

Note: 1. The prices in the table include consumption tax, value-added tax, urban construction tax and additional education fees.

2. The prices of gasoline and diesel oil in the table are in line with the compulsory national standards of VIA and Ⅵ in the sixth stage.

3. The sixth stage standard of gasoline and diesel is gasoline and No. 0 vehicle diesel respectively.

4. The prices of gasoline and diesel oil that meet the quality standards of the sixth stage for the national reserve and the Xinjiang production and Construction Corps are 8510 yuan and 7490 yuan per ton respectively, and other relevant oil price policies shall be implemented in accordance with the provisions of the measures for Oil Price Management.