Gasoline: Weak market demand and poor trading atmosphere

Gasoline: weak market demand and poor trading atmosphere

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231020	America	WTI	88.75	-0.62
20231020	The United Kingdom	Brent	92.16	-0.22

 

Gasoline price index

On October 23, China's gasoline price index fell 72.46, or 0.79%, to 9115.91, while China's gasoline price index fell 78.54, or 0.82%, to 9445.27. 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 329.37.

 

Gasoline market analysis:

Today, the wholesale price of gasoline in China has mainly fallen, with gasoline prices falling by 50-200 yuan per ton in North China, Central China, East China, Southwest China and Northeast China. Gasoline prices in South China and Northwest China are relatively stable. The ex-factory price of Geolian continued to fall on Saturday and Saturday, with an overall decline of 100-200 yuan / ton compared with last Friday, but there was little change in the northwest region. At present, the focus of trading in China's gasoline market has moved downwards again. As the "Golden Nine Silver Ten" comes to an end, the bearish mood in the middle and lower reaches is strong, the wait-and-see mentality is more, the purchase rigid demand is dominant, and the replenishment cycle is shorter. The refinery tends to sell more goods, and the transaction discount increases. Overall, the trading atmosphere in the market is not good.

October 23 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 10.20	Price 10.23	Rise and fall
North China region	92#	8680-9600	8550-9600	-130/0
	95#	8880-10000	8750-10000	-130/0
South China	92#	8950-9700	8950-9700	0/0
	95#	9200-10000	9200-10000	0/0
Central China	92#	8850-9200	8800-9200	-50/0
	95#	9050-9450	8950-9400	-100/-50
East China region	92#	8850-9650	8800-9650	-50/0
	95#	9050-10000	9000-10000	-50/0
Northwestern region	92#	8730-10050	8730-10050	0/0
	95#	8930-10450	8930-10450	0/0
Southwest China	92#	9050-9530	8900-9450	-150/-80
	95#	9350-9950	9150-9830	-200/-120
Northeast China	92#	8900-9800	8750-9800	-150/0
	95#	9200-10000	8990-10000	-210/0

 

October 23 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 10.20	Price 10.23	Rise and fall
Shandong area	92#	8400-8670	8200-8470	-200/-200
	95#	8480-8860	8310-8690	-170/-170
North China region	92#	8380-8480	8210-8300	-170/-180
	95#	8480-8530	8350-8360	-130/-170
Central China	92#	8700-8700	8550-8550	-150/-150
	95#	8900-8900	8750-8750	-150/-150
East China region	92#	8510-8620	8340-8500	-170/-120
	95#	8630-8790	8460-8670	-170/-120
Northwestern region	92#	8450-8650	8450-8650	0/0
	95#	8550-8850	8550-8850	0/0
Northeast China	92#	8800-8900	8600-8800	-200/-100
	95#	9100-9100	9000-9000	-100/-100
Southwest China	92#	9000-9000	8950-8950	-50/-50
	95#	9150-9150	9100-9100	-50/-50

 

Future forecast

From the perspective of international crude oil, the market continues to wait and see the development of the situation in the Middle East, which does not pose a direct threat to the supply of crude oil. In addition, the United States announced some temporary sanctions on Venezuela, superimposed an increase in the number of US oil and gas drilling platforms, and a relaxation in crude oil supply. From the perspective of the Chinese market, the market holds a wait-and-see attitude towards the future, and the demand performance is not good enough to support; the pressure on the monthly task of the refinery near the end of the month increases, and the willingness to raise prices is weak. Taken together, it is expected that China's gasoline market may continue to decline 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.