Gasoline (20230609): Limited fundamental support, mild purchasing and sales atmosphere

Gasoline: limited fundamental support, mild buying and selling atmosphere

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230608	America	WTI	71.29	-1.24
20230608	The United Kingdom	Brent	75.96	-0.99

 

Gasoline price index

On June 9, China's gasoline price index fell 7.16, or 0.08%, to 8793.72, while China's gasoline price index fell by 0.10%, to 9089.61. 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 295.89.

 

Gasoline market analysis:

Today, the price of gasoline in China's main wholesale price area is mainly stable in many places, and it has been reduced in some areas, among which gasoline prices in North China have been reduced by a range of 20-50 yuan per ton. Most of the ex-factory prices of georefining have been reduced, among which the gasoline prices of Shandong, North China, Central China and East China have been reduced by a range of 10-70 yuan per ton. Gasoline prices in the northwest and northeast regions remained stable for the time being. At present, the turnover of China's gasoline market is general, the downstream rigid demand procurement, the elimination of inventory, the demand performance is mediocre. The performance pressure of the refinery in half a year is gradually emerging, the shipping speed is slow, and the room for promotion is insufficient. On the whole, the fundamental support is limited and the buying and selling atmosphere is mild.

 

June 9 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 6.8	Price 6.9	Rise and fall
North China region	92#	8650-9050	8650-9000	0/-50
	95#	8870-9230	8850-9230	-20/0
South China	92#	8800-9300	8800-9300	0/0
	95#	9050-9600	9050-9600	0/0
Central China	92#	8680-9050	8680-9050	0/0
	95#	8850-9400	8850-9400	0/0
East China region	92#	8650-9030	8650-9030	0/0
	95#	8850-9210	8850-9210	0/0
Northwestern region	92#	8700-9580	8700-9580	0/0
	95#	8900-10140	8900-10140	0/0
Southwest China	92#	8870-9180	8870-9180	0/0
	95#	9200-9630	9200-9630	0/0
Northeast China	92#	8580-8800	8580-8800	0/0
	95#	8900-9300	8900-9300	0/0

 

June 9 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 6.8	Price 6.9	Rise and fall
Shandong area	92#	8390-8670	8390-8630	0/-40
	95#	8490-8840	8460-8790	-30/-50
North China region	92#	8430-8470	8420-8430	-10/-40
	95#	8530-8570	8520-8530	-10/-40
Central China	92#	8770-8770	8720-8720	-50/-50
	95#	9000-9000	8920-8920	-70/-70
East China region	92#	8440-8550	8420-8530	-20/-20
	95#	8590-8700	8570-8680	-20/-20
Northwestern region	92#	8400-8700	8400-8700	0/0
	95#	8550-8900	8550-8900	0/0
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 was news that the United States would lift sanctions on Iranian crude oil exports, which the United States later denied, but the news still made international crude oil futures prices fall, and there was no favorable support for the market. From the perspective of macro policy, during this price adjustment cycle, the negative range of the rate of change of international crude oil narrows, the international oil price fluctuates in a narrow range, the current price adjustment window is likely to run aground, and the market lacks information guidance. In terms of demand, automotive air conditioning oil is expected to be better, and terminal consumption may increase. The demand side expectation is better, but the main units and local refineries are not willing to increase due to the drag of performance pressure. On the whole, it is expected that China's gasoline prices will be sorted out 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 30, 2023, the prices of gasoline and diesel in China (standard products, the same below) will be increased by 100 yuan and 95 yuan 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 is 24:00 on May 30, 2023, the eighth 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	9375	8350
Tianjin	9340	8315
Hebei Province	9340	8315
Shanxi province	9410	8370
Liaoning province	9340	8315
Jilin Province	9340	8315
Heilongjiang province	9340	8315
Shanghai	9355	8320
Jiangsu Province	9395	8355
Zhejiang Province	9395	8370
Anhui province	9390	8365
Fujian Province	9415	8380
Jiangxi province	9395	8375
Shandong province	9350	8325
Hubei province	9365	8340
Hunan Province	9405	8400
Henan province	9360	8335
Hainan province	9485	8450
Chongqing	9555	8525
Guangdong province	9420	8385
Guangxi Zhuang Autonomous region	9485	8450
Ningxia Hui Autonomous region	9345	8315
Gansu province	9325	8335
Xinjiang Uygur Autonomous region	9120	8210
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	9355	8330
Chengdu city	9560	8550
Guiyang city	9520	8475
Kunming City	9550	8505
Xi'an city	9325	8325
Xining City	9305	8360

                                                                

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 8610 yuan and 7585 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.