Gasoline (20230704): The good news is gradually being digested, and the upward momentum of the market is declining

Gasoline: the good news is gradually digested and the action power in the market is declining.

International crude oil closed

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230703	America	WTI	69.79	-0.85
20230703	The United Kingdom	Brent	74.65	-0.25

 

Gasoline price index

On July 4, China's gasoline price index rose 13.60, or 0.15%, to 8802.65, while China's gasoline price index rose 18.48, or 0.20%, to 9118.50. The 9-month gasoline index and the 9-month gasoline index both rose, and the price difference between the 9-month gasoline index and the 9-month gasoline index was 315.85.

 

Gasoline market analysis:

Today, the wholesale prices of gasoline in China are stable and relatively strong, with gasoline prices in North China, South China, Northwest and Southwest regions, East China and Northeast China rising by 50-150 yuan per ton. The prices of gasoline in Central China, East China and Northeast China have also been adjusted but have not broken through the end value. The ex-factory prices of georefining mainly fluctuated, of which the prices of Nine and Ninth gasoline in Shandong, East China and Northwest China were increased by 100-180 yuan per ton, while those in Central China were reduced by 50 yuan per ton. Gasoline prices in North China and Northeast China are stable for the time being. At present, the turnover of China's gasoline market is general, the good news of macro policy is gradually digested, the market operates at a high level, the downstream resistance psychology increases, and the refinery shipment situation is not good. On the whole, the action force in the market is declining.

 

July 4 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 7.3	Price 7.4	Rise and fall
North China region	92#	8650-9130	8800-9130	150/0
	95#	8850-9330	8850-9400	0/70
South China	92#	8700-9100	8750-9100	50/0
	95#	8950-9400	9000-9400	50/0
Central China	92#	8700-8900	8700-8900	0/0
	95#	8850-9200	8850-9200	0/0
East China region	92#	8650-9100	8650-9100	0/0
	95#	8850-9400	8850-9450	0/50
Northwestern region	92#	8500-9620	8650-9620	150/0
	95#	8700-10180	8850-10180	150/0
Southwest China	92#	8850-9100	8900-9100	50/0
	95#	9100-9550	9150-9550	50/0
Northeast China	92#	8530-9130	8580-9130	50/0
	95#	8950-9640	8950-9640	0/0

 

July 4 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 7.3	Price 7.4	Rise and fall
Shandong area	92#	8530-8800	8530-8900	0/100
	95#	8700-9000	8700-9040	0/40
North China region	92#	8600-8830	8600-8830	0/0
	95#	8700-8930	8700-8930	0/0
Central China	92#	8840-8840	8790-8790	-50/-50
	95#	9040-9040	8990-8990	-50/-50
East China region	92#	8400-8730	8580-8730	180/0
	95#	8550-8880	8730-8880	180/0
Northwestern region	92#	8500-8700	8650-8700	150/0
	95#	8700-8850	8850-8850	150/0
Northeast China	92#	8600-8600	8600-8600	0/0
	95#	8800-8800	8800-8800	0/0

 

Future forecast

From the perspective of international crude oil, economic worries outweigh the impact of supply cuts, international oil prices have stopped rising and falling, and there is no good guidance on costs. From the point of view of the price adjustment mechanism, the current round of retail price adjustment has been temporarily shelved, the final price adjustment direction is uncertain, and the information support is limited. At the beginning of the month, the price-raising mentality of the main and local refineries is OK, and some of them are flexibly adjusted according to their own conditions. From the demand point of view, downstream rigid demand procurement is the main. But the market is relatively high, downstream wait-and-see mentality may reappear. Taken together, the growth rate of China's gasoline market is expected to narrow in the short term.

 

 

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

Since 24:00 on June 28, 2023, the prices of gasoline and diesel in China (standard products, the same below) have been increased by 70 yuan per ton. 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 June 28, 2023, the fourth 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	9390	8370
Tianjin	9355	8335
Hebei Province	9355	8335
Shanxi province	9425	8390
Liaoning province	9355	8335
Jilin Province	9355	8335
Heilongjiang province	9355	8335
Shanghai	9370	8340
Jiangsu Province	9410	8375
Zhejiang Province	9410	8390
Anhui province	9405	8385
Fujian Province	9430	8400
Jiangxi province	9410	8395
Shandong province	9365	8345
Hubei province	9380	8360
Hunan Province	9420	8420
Henan province	9375	8355
Hainan province	9500	8470
Chongqing	9570	8545
Guangdong province	9435	8405
Guangxi Zhuang Autonomous region	9500	8470
Ningxia Hui Autonomous region	9360	8335
Gansu province	9340	8355
Xinjiang Uygur Autonomous region	9135	8230
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	9370	8350
Chengdu city	9575	8570
Guiyang city	9535	8495
Kunming City	9565	8525
Xi'an city	9340	8345
Xining City	9320	8380

                                                                

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 8625 yuan and 7605 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.