Gasoline: News support is limited, gasoline market remains weak

Gasoline: news support is limited, gasoline market remains weak

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231012	America	WTI	82.91	-0.58
20231012	The United Kingdom	Brent	86	0.18

 

Gasoline price index

On October 13, China's gasoline price index fell 28.02, or 0.30%, to 9263.86, while China's gasoline price index fell 23.25, or 0.24%, to 9593.20. 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 329.35.

 

Gasoline market analysis:

Today, the wholesale prices of gasoline in China have been reduced in most regions, including gasoline prices in North China, South China, East China, Northwest and Southwest regions and Northeast China by 40-150 yuan per ton. The ex-factory price of geo-refinery declined mostly, except for the relatively stable gasoline price in Northeast China, the reduction was concentrated in 40-100 yuan / ton in other regions. At present, the turnover of China's gasoline market is weak, the concentration of replenishment in the middle and lower reaches after the festival is basically over, the enthusiasm of operators to enter the market is not good, the wait-and-see mood is strong, the overall shipment of refineries is general, and the sales policy is more flexible.

October 13 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 10.12	Price 10.13	Rise and fall
North China region	92#	8750-9650	8700-9650	-50/0
	95#	8950-10000	8900-10000	-50/0
South China	92#	9050-9750	9010-9750	-40/0
	95#	9300-10050	9260-10050	-40/0
Central China	92#	8950-9300	8950-9300	0/0
	95#	9100-9500	9100-9500	0/0
East China region	92#	8950-9650	8800-9650	-150/0
	95#	9100-10000	9000-10000	-100/0
Northwestern region	92#	8950-10050	8850-10050	-100/0
	95#	9150-10450	9050-10450	-100/0
Southwest China	92#	9200-9550	9150-9550	-50/0
	95#	9450-9950	9400-9920	-50/-30
Northeast China	92#	9150-9800	9050-9800	-100/0
	95#	9450-10000	9450-10000	0/0

 

October 13 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 10.12	Price 10.13	Rise and fall
Shandong area	92#	8440-8830	8400-8750	-40/-80
	95#	8550-8910	8500-8870	-50/-40
North China region	92#	8590-8600	8510-8550	-80/-50
	95#	8650-8690	8600-8610	-50/-80
Central China	92#	8810-8810	8730-8730	-80/-80
	95#	9010-9010	8930-8930	-80/-80
East China region	92#	8580-8660	8530-8600	-50/-60
	95#	8700-8830	8650-8770	-50/-60
Northwestern region	92#	8750-8950	8750-8850	0/-100
	95#	8900-9150	8900-9050	0/-100
Northeast China	92#	9150-9150	9150-9150	0/0
	95#	9350-9350	9350-9350	0/0
Southwest China	92#	9250-9250	9200-9200	-50/-50
	95#	9400-9400	9350-9350	-50/-50

 

Future forecast

From the perspective of international crude oil, IEA lowered its forecast for crude oil demand growth in 2024, the inflation rate in the United States in September was higher than expected, and the economic level was still relatively weak, while OPEC's production reduction stance supported oil prices, both positive and negative factors, and lack of new factors to guide oil prices. From the point of view of the refined oil price adjustment mechanism, the new round of refined oil price adjustment is still expected to be reduced, and the overall change in gasoline demand is relatively stable. On the whole, it is expected that China's gasoline market will 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.