Gasoline: Price limit increase is approaching, market bullish mentality still exists

Gasoline: the price limit is approaching, the market is still bullish

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230808	America	WTI	82.92	0.98
20230808	The United Kingdom	Brent	82.92	0.83

 

Gasoline price index

On Aug. 9, China's gasoline price index rose 9.76, or 0.11%, to 9266.08, while China's gasoline price index rose 24.36, or 0.25%, to 9586.99. 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 320.91.

 

Gasoline market analysis:

Today, China's main wholesale gasoline prices are steadily rising, with gasoline prices in North China, South China, Central China, Northwest and Northeast regions rising by a range of 50-120 yuan per ton, while prices in other regions are relatively stable. The ex-factory price of geo-refinery has increased slightly, including gasoline prices in Shandong, North China and Northeast China, with a range of 20-70 yuan per ton. At present, the deal in China's gasoline market is OK, and some traders in the market are still bullish as they replenish goods at a low price. Refinery shipping pressure is not great to maintain the price mentality.

 

August 9 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 8.8	Price 8.9	Rise and fall
North China region	92#	9000-9350	9000-9470	0/120
	95#	9250-9700	9250-9820	0/120
South China	92#	9200-9410	9200-9450	0/40
	95#	9400-9710	9500-9710	100/0
Central China	92#	9000-9350	9050-9350	50/0
	95#	9300-9650	9350-9650	50/0
East China region	92#	9100-9400	9100-9400	0/0
	95#	9280-9600	9280-9600	0/0
Northwestern region	92#	8900-9890	9000-9890	100/0
	95#	9100-10640	9200-10640	100/0
Southwest China	92#	9250-9550	9250-9550	0/0
	95#	9650-10000	9650-10000	0/0
Northeast China	92#	8950-10054	9050-10054	100/0
	95#	9300-10620	9400-10620	100/0

 

August 9 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 8.8	Price 8.9	Rise and fall
Shandong area	92#	8700-9000	8720-9000	20/0
	95#	8800-9180	8870-9180	70/0
North China region	92#	8880-8980	8880-9010	0/30
	95#	9030-9030	9030-9060	0/30
Central China	92#	9080-9080	9080-9080	0/0
	95#	9280-9280	9280-9280	0/0
East China region	92#	8720-8850	8720-8850	0/0
	95#	8870-9000	8870-9000	0/0
Northwestern region	92#	8850-8950	8850-8950	0/0
	95#	9000-9150	9000-9150	0/0
Northeast China	92#	8950-8950	9000-9000	50/50
	95#	9150-9150	9200-9200	50/50

 

Future forecast

In terms of international crude oil, China's crude oil imports fell 18.8% in July from June, but the EIA expects China's gross domestic product to rise faster than expected to boost international oil prices. This round of upward window opening is close to the expected increase of more than 200 yuan / ton, the news side is a positive guide. In addition, traders are optimistic about the future of the market, the profit data of China's gasoline exports are better, and the price-raising mentality of refineries is not reduced. At present, the prominent role of demand is weakened, and multi-rigid demand procurement is relatively stable to support the operation of the market. Taken together, it is expected that China's gasoline market prices are still likely to rise in the short term.

 

 

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

Since 24:00 on July 26th, the price of gasoline and diesel in China will be increased by 275yuan and 260yuan 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 July 26, 2023, the 10th 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	9820	8780
Tianjin	9785	8745
Hebei Province	9785	8745
Shanxi province	9855	8800
Liaoning province	9785	8745
Jilin Province	9785	8745
Heilongjiang province	9785	8745
Shanghai	9800	8750
Jiangsu Province	9840	8785
Zhejiang Province	9840	8800
Anhui province	9835	8795
Fujian Province	9860	8810
Jiangxi province	9840	8805
Shandong province	9795	8755
Hubei province	9810	8770
Hunan Province	9850	8830
Henan province	9805	8765
Hainan province	9930	8880
Chongqing	10000	8955
Guangdong province	9865	8815
Guangxi Zhuang Autonomous region	9930	8880
Ningxia Hui Autonomous region	9790	8745
Gansu province	9770	8765
Xinjiang Uygur Autonomous region	9565	8640
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	9800	8760
Chengdu city	10005	8980
Guiyang city	9965	8905
Kunming City	9995	8935
Xi'an city	9770	8755
Xining City	9750	8790

                                                                

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 9055 yuan and 8015 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.