Gasoline: wait-and-see sentiment still exists, market trading is weak

Gasoline: wait-and-see mood still exists, market trading is light

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230825	America	WTI	79.83	0.78
20230825	The United Kingdom	Brent	84.48	1.12

 

Gasoline price index

On August 28th, China's gasoline price index rose 3.79, or 0.04%, to 9255.24, while China's gasoline price index rose 6.15, or 0.06%, to 9576.66. 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 321.42.

 

Gasoline market analysis:

Today, the wholesale prices of gasoline in various regions of China fluctuate up and down, but the prices of gasoline in Southwest China and Central China have been reduced by 20-50 yuan per ton. The ex-factory price of Geo Refinery rose narrowly from last Friday, with increases of 30-50 yuan per ton in Shandong, Central China, Northwest China and North China. The quotations of refineries in other areas remain unchanged for the time being. At present, the turnover of China's gasoline market is general, the downstream purchasing enthusiasm is not high, and the rigid demand is the main; the delivery speed of refineries is mediocre. The transaction policy is flexible to stimulate shipments. On the whole, the market wait-and-see mood still exists, trading is light.

August 28 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 8.25	Price 8.28	Rise and fall
North China region	92#	8950-9710	8950-9710	0/0
	95#	9150-10090	9150-10090	0/0
South China	92#	9050-9450	9050-9450	0/0
	95#	9300-9750	9300-9750	0/0
Central China	92#	8950-9250	8950-9250	0/0
	95#	9250-9500	9200-9500	-50/0
East China region	92#	8950-9600	8950-9600	0/0
	95#	9150-9900	9150-9900	0/0
Northwestern region	92#	9000-10134	9000-10134	0/0
	95#	9200-10910	9200-10910	0/0
Southwest China	92#	9130-9480	9130-9480	-20/0
	95#	9400-9830	9350-9830	-50/0
Northeast China	92#	9045-9800	9045-9800	0/0
	95#	9395-10400	9395-10400	0/0

 

The ex-factory price of gasoline refining on August 28 (RMB / ton)
Area	Gasoline model	Price 8.25	Price 8.28	Rise and fall
Shandong area	92#	8700-9030	8740-9070	40/40
	95#	8850-9220	8850-9250	0/30
North China region	92#	8740-9020	8740-9050	0/30
	95#	8840-9070	8840-9070	0/0
Central China	92#	8980-8980	9010-9010	30/30
	95#	9180-9180	9210-9210	30/30
East China region	92#	8790-8900	8790-8940	0/40
	95#	8910-9050	8910-9110	0/60
Northwestern region	92#	8900-9000	8950-9000	50/0
	95#	9050-9200	9100-9200	50/0
Northeast China	92#	9050-9050	9050-9050	0/0
	95#	9250-9250	9250-9250	0/0

 

Future forecast

From the perspective of international crude oil, the macroeconomic level is still bearish to suppress oil prices and the possibility of Fed interest rate increases, but the positive factors of supply-side OPEC+ production reduction continue to support oil prices. At the end of the month, the refinery sales pressure in some areas of the Chinese market has increased, while the downstream follow-up is insufficient, and the purchase and sales are not good under the support of the wait-and-see mentality. The new round of crude oil change rate is negative, the news side is negative guidance. Taken together, it is expected that there is still room for a reduction in China's gasoline prices in the short term.

 

 

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

Since 24:00 on August 23, 2023, the prices of gasoline and diesel in China (standard products, the same below) have been increased by 55 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 August 23, 2023, the third 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	9765	8725
Tianjin	9730	8690
Hebei Province	9730	8690
Shanxi province	9800	8745
Liaoning province	9730	8690
Jilin Province	9730	8690
Heilongjiang province	9730	8690
Shanghai	9745	8695
Jiangsu Province	9785	8730
Zhejiang Province	9785	8745
Anhui province	9780	8740
Fujian Province	9805	8755
Jiangxi province	9785	8750
Shandong province	9740	8700
Hubei province	9755	8715
Hunan Province	9795	8775
Henan province	9750	8710
Hainan province	9875	8825
Chongqing	9945	8900
Guangdong province	9810	8760
Guangxi Zhuang Autonomous region	9875	8825
Ningxia Hui Autonomous region	9735	8690
Gansu province	9715	8710
Xinjiang Uygur Autonomous region	9510	8585
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	9745	8705
Chengdu city	9950	8925
Guiyang city	9910	8850
Kunming City	9940	8880
Xi'an city	9715	8700
Xining City	9695	8735

                                                                

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 9350 yuan and 8300 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.