Gasoline: Refiners still have a price support mentality, and gasoline market quotations have been raised

Gasoline: refinery pricing mentality still exists, gasoline market quotation is raised

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230901	America	WTI	85.55	1.92
20230901	The United Kingdom	Brent	88.55	1.69

 

Gasoline price index

On September 4, China's gasoline price index rose 60.40, or 0.65%, to 9371.29, while China's gasoline price index rose 59.45, or 0.62%, to 9693.71. 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 322.42.

 

Gasoline market analysis:

Today, China's main wholesale price of gasoline and the ex-factory price of georefining have increased compared with last Friday, with the main wholesale price increasing by 30-150 yuan per ton and the ex-factory price by 60-200 yuan per ton. At present, the turnover of China's gasoline market is general, the weekend refinery delivery speed is slow, production and marketing is not balanced, the terminal procurement rigid demand is mainly, the speculative demand is flat, but the refinery price mentality is heavy.

September 4 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 9.1	Price 9.4	Rise and fall
North China region	92#	9000-9710	9050-9800	50/90
	95#	9200-10090	9230-10160	30/70
South China	92#	9170-9550	9200-9650	30/100
	95#	9420-9850	9450-9950	30/100
Central China	92#	9050-9400	9100-9400	50/0
	95#	9200-9650	9250-9650	50/0
East China region	92#	9050-9600	9150-9600	100/0
	95#	9250-9900	9350-9900	100/0
Northwestern region	92#	9000-10134	9100-10134	100/0
	95#	9200-10910	9300-10910	100/0
Southwest China	92#	9150-9520	9300-9650	150/130
	95#	9450-9870	9550-10020	100/150
Northeast China	92#	9045-9800	9080-988	35/80
	95#	9465-10400	9500-10400	35/0

 

September 4 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 9.1	Price 9.4	Rise and fall
Shandong area	92#	8770-9130	8800-9200	30/70
	95#	8930-9270	8930-9350	0/80
North China region	92#	8840-9110	8840-9110	60/80
	95#	8940-9160	8940-9160	30/80
Central China	92#	9060-9060	9140-9140	80/80
	95#	9260-9260	9340-9340	80/80
East China region	92#	8870-9000	8930-9060	60/60
	95#	8990-9170	9050-9230	60/60
Northwestern region	92#	8950-9000	9050-9200	100/200
	95#	9100-9200	9200-9400	100/200
Northeast China	92#	9050-9050	9150-9150	100/100
	95#	9250-9250	9350-9350	100/100

 

Future forecast

From the perspective of international crude oil, OPEC+ production reduction atmosphere continues to support oil prices, superimposed Chinese manufacturing data is better than expected, international oil prices. However, the fact that oil prices have risen for several days in a row does not rule out the existence of traders' profit-taking operations. At the beginning of the month, there was little pressure on refineries' performance and a strong willingness to raise prices. In addition, the good news from the third batch of export quotas a few days ago still boosted China's gasoline market. However, on the demand side, rigid demand procurement is in the majority, and risk aversion sentiment has warmed up. From the point of view of the price adjustment mechanism of refined oil, according to the cumulative rate of change of crude oil, the price adjustment of refined oil is expected to run aground, and the information guidance is limited. Taken together, China's gasoline prices are expected to fluctuate within 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 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 eighth working day 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.