Gasoline: Poor demand performance, average market transactions

Gasoline: poor demand performance and mediocre market transactions

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231027	America	WTI	85.54	2.33
20231027	The United Kingdom	Brent	90.48	2.55

 

Gasoline price index

On October 30th, China's gasoline price index fell 13.96, or 0.16%, to 8887.64, while China's gasoline price index fell 12.72, or 0.14%, to 9225.48. 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 337.84.

 

Gasoline market analysis:

Today, the wholesale prices of gasoline in China are mixed, with low-end prices in central China and gasoline prices in South China rising by 30-100 yuan per ton; gasoline prices in North China and South China falling by 50-100 yuan per ton, while gasoline prices in other regions are sorted out. Ex-factory prices fluctuated in a narrow range, with gasoline prices in North and Central China and Shandong reduced by 40-50 yuan per ton, gasoline prices in southwest China increased by 50 yuan per ton, and gasoline prices in other areas were relatively stable. At present, the turnover of China's gasoline market is average, the wait-and-see mood in the middle and lower reaches still exists, and the mentality of entering the market is cautious. The refinery quotation is mainly adjusted flexibly according to its own situation. On the whole, the market is lukewarm.

October 30 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 10.27	Price 10.30	Rise and fall
North China region	92#	8300-9600	8200-9600	-100/0
	95#	8500-10000	8400-10000	-100/0
South China	92#	8650-9650	8650-9680	0/30
	95#	8900-9950	8900-9980	0/30
Central China	92#	8550-9200	8650-9150	100/-50
	95#	8700-9400	8800-9450	100/50
East China region	92#	8400-9650	8400-9650	0/0
	95#	8600-10000	8600-10000	0/0
Northwestern region	92#	8330-10000	8330-10000	0/0
	95#	8530-10450	8530-10450	0/0
Southwest China	92#	8700-9200	8700-9200	0/0
	95#	8950-9650	8900-9550	-50/-100
Northeast China	92#	8600-9800	8600-9800	0/0
	95#	8900-10000	8900-10000	0/0

 

The ex-factory price of gasoline refining on October 30 (RMB / ton)
Area	Gasoline model	Price 10.27	Price 10.30	Rise and fall
Shandong area	92#	8050-8340	8050-8300	0/-40
	95#	8130-8600	8130-8470	0/0
North China region	92#	8110-8170	8110-8170	0/-50
	95#	8250-8230	8250-8230	0/-50
Central China	92#	8340-8340	8290-8290	-50/-50
	95#	8540-8540	8490-8490	-50/-50
East China region	92#	8180-8380	8180-8380	0/0
	95#	8300-8550	8300-8550	0/0
Northwestern region	92#	8150-8250	8150-8250	0/0
	95#	8250-8450	8250-8450	0/0
Northeast China	92#	8450-8600	8450-8600	0/0
	95#	8800-8800	8800-8800	0/0
Southwest China	92#	8600-8600	8650-8650	50/50
	95#	8750-8750	8800-8800	50/50

 

Future forecast

From the perspective of international crude oil, the market is worried that the Palestinian-Israeli conflict may spread to more countries, thus posing a threat to the international crude oil supply. Overall, there are mixed feelings about geopolitical concerns in the market. From the perspective of the Chinese market, although the shipments of local refineries have improved over the weekend, the monthly pressure of the main business is still poor, and there is no obvious positive support for lower-than-expected actual demand, so refineries continue to reduce prices and promote sales. Taken together, it is expected that there is still room for downward adjustment in China's gasoline market 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 24, 2023, the price of gasoline and diesel in China has been reduced by 70 yuan per ton (standard, the same below). 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 November 7.

 

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	10345	9285
Tianjin	10310	9250
Hebei Province	10310	9250
Shanxi province	10380	9305
Liaoning province	10310	9250
Jilin Province	10310	9250
Heilongjiang province	10310	9250
Shanghai	10325	9255
Jiangsu Province	10365	9290
Zhejiang Province	10365	9305
Anhui province	10360	9300
Fujian Province	10385	9315
Jiangxi province	10365	9310
Shandong province	10320	9260
Hubei province	10335	9275
Hunan Province	10375	9335
Henan province	10330	9270
Hainan province	10455	9385
Chongqing	10525	9460
Guangdong province	10390	9320
Guangxi Zhuang Autonomous region	10455	9385
Ningxia Hui Autonomous region	10315	9250
Gansu province	10295	9270
Xinjiang Uygur Autonomous region	10090	9145
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	10325	9265
Chengdu city	10530	9485
Guiyang city	10490	9410
Kunming City	10520	9440
Xi'an city	10295	9260
Xining City	10275	9295

                                                                

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 9580 yuan and 8520 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.