Gasoline: Retail price limits are lowered and cashed, and the Chinese market is weakening

Gasoline: retail price limit reduced and realized, weakening operation of Chinese market

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231010	America	WTI	85.97	-0.41
20231010	The United Kingdom	Brent	87.65	-0.5

 

Gasoline price index

On October 11th, China's gasoline price index fell 23.96, or 0.26%, to 9335.02, while China's gasoline price index fell 25.26, or 0.26%, to 9662.58. 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 327.56.

 

Gasoline market analysis:

Today, the wholesale price of gasoline in China has changed from falling to rising, with gasoline prices in North China, South China, East China and Southwest China reduced by 30-150 yuan per ton, while gasoline prices in Central China and Northwest China are mainly sorted out. The ex-factory price of Earth Refinery fell as a whole, with a reduction of 20-80 yuan per ton. At present, the turnover of China's gasoline market is relatively light, the replenishment of rigid demand in the middle and lower reaches is not as strong as expected, the retail price limit is reduced, and the refinery quotation is also lowered. On the whole, the market has no favorable support for the time being, and the trading atmosphere is weak.

October 11 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 10.10	Price 10.11	Rise and fall
North China region	92#	8850-9650	8800-9650	-50/0
	95#	9050-10000	9000-10000	-50/0
South China	92#	9150-9880	9150-9850	0/-30
	95#	9400-10180	9400-10150	0/-30
Central China	92#	9000-9300	9000-9300	0/0
	95#	9200-9500	9200-9500	0/0
East China region	92#	9000-9650	8950-9650	-50/0
	95#	9200-10000	9100-10000	-100/0
Northwestern region	92#	8950-10050	8950-10050	0/0
	95#	9150-10450	9150-10450	0/0
Southwest China	92#	9300-9650	9300-9550	0/-100
	95#	9550-10100	9550-9950	0/-150
Northeast China	92#	9150-9850	9150-9800	0/-50
	95#	9450-10000	9450-10000	0/0

 

October 11 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 10.10	Price 10.11	Rise and fall
Shandong area	92#	8600-8980	8550-8920	-20/-60
	95#	8750-9100	8730-9000	-30/-50
North China region	92#	8790-8820	8720-8740	-70/-80
	95#	8840-8920	8790-8840	-50/-80
Central China	92#	8910-8910	8860-8860	-50/-50
	95#	9110-9110	9060-9060	-50/-50
East China region	92#	8700-8800	8680-8760	-20/-40
	95#	8820-8970	8800-8930	-20/-40
Northwestern region	92#	8900-8950	8850-8950	-50/0
	95#	9050-9150	9000-9150	-50/0
Northeast China	92#	9200-9200	9150-9150	-50/-50
	95#	9400-9400	9350-9350	-50/-50

 

Future forecast

From the perspective of international crude oil, at present, the global attention is mostly focused on the Palestinian-Israeli conflict, but now there is no impact on the supply side of crude oil. In addition, the production reduction policy has been promoted; there are both positive and negative factors in the international crude oil market. The duration of post-holiday replenishment in China's gasoline market is short, only eliminating the stock and purchasing rigid demand, the market is not stimulated by favorable factors for the time being, on the whole, the gasoline market fluctuates less. Taken together, the trend of China's gasoline market is expected to be weak in the short term.

 

 

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

Since 24:00 on October 10, 2023, the prices of gasoline and diesel in China have been reduced by 85 yuan and 80 yuan 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 next price adjustment is expected to be October 24.

 

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	10415	9355
Tianjin	10380	9320
Hebei Province	10380	9320
Shanxi province	10450	9375
Liaoning province	10380	9320
Jilin Province	10380	9320
Heilongjiang province	10380	9320
Shanghai	10395	9325
Jiangsu Province	10435	9360
Zhejiang Province	10435	9375
Anhui province	10430	9370
Fujian Province	10455	9385
Jiangxi province	10435	9380
Shandong province	10390	9330
Hubei province	10405	9345
Hunan Province	10445	9405
Henan province	10400	9340
Hainan province	10525	9455
Chongqing	10595	9530
Guangdong province	10460	9390
Guangxi Zhuang Autonomous region	10525	9455
Ningxia Hui Autonomous region	10385	9320
Gansu province	10365	9340
Xinjiang Uygur Autonomous region	10160	9215
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	10395	9335
Chengdu city	10600	9555
Guiyang city	10560	9480
Kunming City	10590	9510
Xi'an city	10365	9330
Xining City	10345	9365

                                                                

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 VIB 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 9650 yuan and 8590 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.