Gasoline: Refinery prices have dropped, and market transactions have been light

Gasoline: the price of refinery has dropped somewhat, and the market turnover is light.

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230908	America	WTI	87.51	0.64
20230908	The United Kingdom	Brent	90.65	0.73

 

Gasoline price index

On Sept. 11, China's gasoline price index fell 13.80, or 0.15%, to 9387.73, while China's gasoline price index fell 15.03, or 0.15%, to 9709.85. 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 322.12.

 

Gasoline market analysis:

Today, the wholesale prices of gasoline in China have been lowered in most regions, with prices in North China, South China, Central China, East China and Southwest China reduced by 20-50 yuan per ton. The fluctuation of the main wholesale price in the northwest and northeast regions is small. The ex-factory price of geo-refining has been reduced in a narrow range, including 20-40 yuan per ton in Shandong, North China and East China. Gasoline prices in Central China, Northwest China and Northeast China are temporarily stable. At present, the transaction in China's gasoline market is mediocre, the price is relatively high, and the downstream resistance psychology is increasing. In addition, there is a lack of completion of refinery sales near the middle of the month, so lower quotations in areas with poor sales stimulate shipments.

Main wholesale price of gasoline on September 11 (RMB / ton)
Area	Gasoline model	Price 9.8	Price 9.11	Rise and fall
North China region	92#	9050-9800	9000-9800	-50/0
	95#	9230-10160	9180-10160	-50/0
South China	92#	9250-9700	9200-9700	-50/0
	95#	9500-10000	9450-10000	-50/0
Central China	92#	9100-9450	9180-9400	-20/-50
	95#	9250-9700	9230-9650	-20/-50
East China region	92#	9150-9600	9100-9600	-50/0
	95#	9300-9900	9250-9900	-50/0
Northwestern region	92#	9100-10134	9100-10134	0/0
	95#	9300-10910	9300-10910	0/0
Southwest China	92#	9390-9750	9390-9700	0/-50
	95#	9590-10150	9590-10100	0/-50
Northeast China	92#	9130-9880	9130-9880	0/0
	95#	9500-10400	9500-10400	0/0

 

The ex-factory price of gasoline refinery on September 11 (RMB / ton)
Area	Gasoline model	Price 9.8	Price 9.11	Rise and fall
Shandong area	92#	8780-9140	8750-9120	-30/-20
	95#	8950-9300	8920-9280	-30/-20
North China region	92#	8830-9080	8830-9050	0/-30
	95#	8930-9130	8930-9100	0/-30
Central China	92#	9130-9130	9130-9130	0/0
	95#	9330-9330	9330-9330	0/0
East China region	92#	8910-9010	8870-8970	-40/-40
	95#	9030-9180	8990-9140	-40/-40
Northwestern region	92#	9050-9300	9050-9300	0/0
	95#	9200-9400	9200-9400	0/0
Northeast China	92#	9150-9150	9150-9150	0/0
	95#	9350-9350	9350-9350	0/0

 

Future forecast

From the perspective of international crude oil, the tight supply situation highlights positive factors to support oil prices, but the high position of oil prices dike pullback risk. In terms of the Chinese market, from the point of view of the price adjustment mechanism of refined oil products, the new round of price adjustment of refined oil products is running in a positive direction, and the news is in a positive direction. However, refinery shipments fell short of expectations, and downstream follow-up was limited. Stack gradually into the middle of the month the refinery price space has narrowed. Taken together, China's gasoline market is expected to decline slightly in the short term.

 

 

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

Since the price adjustment of oil products in China on August 23, 2023, oil prices in the international market have fluctuated. According to the current price mechanism of oil products in China, the average price in the first 10 working days on September 6 is less than 50 yuan per ton compared with the average price in the first 10 working days on August 23. The price of gasoline and diesel will not be adjusted this time, and the unadjusted amount will be added or offset in the next price adjustment. The following table shows the results of the price adjustment by the National Development and Reform Commission on August 23, 2023, and the next price adjustment is expected to be September 20.

 

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.