Gasoline (20230511): Phased replenishment is over, market operation is weak

Gasoline: phased replenishment ends, the market operation is weak

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230525	America	WTI	71.83	-2.51
20230525	The United Kingdom	Brent	76.26	-2.1

 

Gasoline price index

On May 26th, China's gasoline price index fell 2.76, or 0.03%, to 8768.87, while China's gasoline price index fell 3.19, or 0.04%, to 9048.74. 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 279.87.

 

Gasoline market analysis:

Today, the wholesale price of gasoline in China is mainly stable in most areas, and only the high-end prices of gasoline in North China have fallen. The ex-factory price of georefining has been reduced in a narrow range, among which the price of gasoline in Shandong, North China, East China and Northwest China has been reduced by 20-50 yuan per ton. Gasoline prices in central China and northeast China remain stable for the time being. At present, the turnover of China's gasoline market is weakening, with the end of phased replenishment, the procurement frequency tends to be stable, orders mostly turn to rigid demand procurement, and the demand side support is general. The delivery speed of refinery noodles becomes slower, inventory accumulates slightly, and there are certain preferential policies to stimulate shipments. On the whole, the buying and selling atmosphere is general, and the market operation is weak.

 

May 26 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 5.25	Price 5.26	Rise and fall
North China region	92#	8600-9050	8600-9000	0/-50
	95#	8800-9200	8800-9150	0/-50
South China	92#	8800-9200	8800-9200	0/0
	95#	9000-9500	9000-9500	0/0
Central China	92#	8650-9000	8650-9000	0/0
	95#	8800-9200	8800-9200	0/0
East China region	92#	8600-9000	8600-9000	0/0
	95#	8850-9180	8850-9180	0/0
Northwestern region	92#	8650-9470	8650-9470	0/0
	95#	8900-10030	8900-10030	0/0
Southwest China	92#	8950-9200	8950-9200	0/0
	95#	9100-9650	9100-9650	0/0
Northeast China	92#	8480-8700	8480-8700	0/0
	95#	8830-9150	8830-9150	0/0

 

The ex-factory price of gasoline refinery on May 26 (RMB / ton)
Area	Gasoline model	Price 5.25	Price 5.26	Rise and fall
Shandong area	92#	8290-8600	8240-8550	-50/-50
	95#	8400-8800	8350-8750	-50/-50
North China region	92#	8300-8420	8300-8400	0/-20
	95#	8400-8520	8400-8500	0/-20
Central China	92#	8700-8700	8700-8700	0/0
	95#	8900-8900	8900-8900	0/0
East China region	92#	8390-8430	8360-8410	-30/-20
	95#	8540-8580	8510-8560	-30/-20
Northwestern region	92#	8450-8700	8400-8700	-50/0
	95#	8650-8900	8600-8900	-50/0
Northeast China	92#	8550-8550	8550-8550	0/0
	95#	8750-8750	8750-8750	0/0

 

Future forecast

From the perspective of international crude oil, there is still uncertainty in the US debt ceiling negotiations, market worries have increased, and international crude oil prices have fallen, although the current rate of change is still positive, and the expectation of an increase in the retail price of refined oil products is still there, but the guidance to the market is limited. From the demand point of view, phased replenishment to rigid demand procurement, real order trading volume is small, small orders mainly, traders wait-and-see mood warming, there is no obvious boost to the demand side. On the whole, it is expected that the price of China's gasoline market will be arranged in a narrow range 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 7th 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.