Gasoline: Main wholesale prices were mixed, while local refining ex-factory prices fell within a narrow range

Gasoline: the main wholesale price is mixed, while the ex-factory price of geo-refinery falls within a narrow range.

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231103	America	WTI	80.51	-1.95
20231103	The United Kingdom	Brent	84.89	-1.96

 

Gasoline price index

On November 6, China's gasoline price index fell 8804.91, or 0.36%, while China's gasoline price index fell 2.69, or 0.03%, to 9167.22. 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 362.31.

 

Gasoline market analysis:

Today, China's main wholesale gasoline is mixed, with gasoline in Northeast China, East China and Central China falling by 50-170 yuan per ton; gasoline prices in southwest China rising by 100 yuan per ton, fluctuating up and down in North China, and the price center of gravity in South China has moved up. The ex-factory price of georefining was reduced in a narrow range, including gasoline prices in Shandong, North China, Central China and East China, with a range of 10-50 yuan per ton. Gasoline prices in the northwest, northeast and southwest regions are relatively stable. At present, the turnover of China's gasoline market is general, the follow-up of terminal demand is insufficient, the replenishment duration of middle and lower reaches traders is short, and the inventory is mainly eliminated; the delivery speed of local refineries slows down over the weekend, and the gasoline market continues its downward trend today.

November 6 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.3	Price 11.6	Rise and fall
North China region	92#	8150-9600	8150-9600	0/0
	95#	8350-10000	8350-10000	0/0
South China	92#	8600-9680	8600-9680	0/0
	95#	8850-9980	8850-9980	0/0
Central China	92#	8500-8950	8500-8950	0/0
	95#	8650-9500	8650-9450	0/-50
East China region	92#	8450-9650	8450-9500	0/-100
	95#	8650-10000	8650-9800	0/-200
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#	8950-9500	8950-9600	0/100
Northeast China	92#	8450-9800	8300-9100	-150/-700
	95#	8800-10000	8630-10000	-170/0

 

November 6 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.3	Price 11.6	Rise and fall
Shandong area	92#	8050-8300	8000-8300	-50/0
	95#	8180-8500	8160-8450	-20/-50
North China region	92#	8130-8140	8100-8130	-30/-10
	95#	8190-8280	8150-8280	-40/0
Central China	92#	8510-8510	8460-8460	-50/-50
	95#	8710-8710	8660-8660	-50/-50
East China region	92#	8150-8280	8150-8250	0/-30
	95#	8270-8450	8270-8420	0/-30
Northwestern region	92#	8050-8250	8050-8250	0/0
	95#	8200-8450	8200-8450	0/0
Northeast China	92#	8300-8400	8300-8400	0/0
	95#	8600-8600	8600-8600	0/0
Southwest China	92#	8700-8700	8700-8700	0/0
	95#	8850-8850	8850-8850	0/0

 

Future forecast

In terms of international crude oil, the Saudi Ministry of Energy will continue to voluntarily reduce production by 1 million barrels per day in December, with an average production of about 9 million barrels per day. The supply side still shows a tight trend, basically facing the support of international oil prices, but geopolitical risks also need to be paid attention to. From the point of view of the Chinese market, on the supply side, Chinese refineries reduce the processing load, and the reduction of output has a certain positive support to the gasoline market price. However, on the demand side of China, downstream inventory consumption is slow, and there is no obvious improvement in the terminal to restrain the upward trend of the gasoline market. At the same time, approaching the adjustment of refined oil price limits and showing downward expectations, the news is a negative guide. Overall, the upward pressure on the gasoline market is increasing, and China's gasoline market is expected to fluctuate within a narrow range 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.