Gasoline: Wholesale and retail price limits are lowered and cashed in, and the market mostly follows the downward trend

Gasoline: the wholesale price limit is reduced, and the market mostly follows the downward trend.

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231107	America	WTI	77.37	-3.45
20231107	The United Kingdom	Brent	81.61	-3.57

 

Gasoline price index

On November 8, China's gasoline price index fell by 32.40, or 0.37%, to 8763.17, while China's gasoline price index fell by 34.42, or 0.38%, to 9135.35. 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 372.18.

 

Gasoline market analysis:

Today, China's gasoline wholesale is mainly down in most areas, and prices in some areas remain unchanged, with gasoline prices in South China, Central China, East China, Northwest and Southwest regions reduced by 50-100 yuan per ton. The ex-factory price of georefining has been reduced mainly, of which the price of gasoline in Shandong, North China, Central China, East China and Southwest China has been reduced by 30-100 yuan per ton. Gasoline prices are stable in the northwest and northeast regions. At present, the turnover of China's gasoline market is light, the middle and lower reaches enter the market cautiously, the performance of terminal demand is poor, the retail price limit of superimposed refined oil is reduced, and refinery quotations are mostly reduced.

November 8 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.7	Price 11.8	Rise and fall
North China region	92#	8180-9600	8180-9600	0/0
	95#	8380-10000	8380-10000	0/0
South China	92#	8600-9680	8550-9680	-50/0
	95#	8850-9980	8800-9980	-50/0
Central China	92#	8500-9150	8450-9100	-50/-50
	95#	8650-9450	8600-9400	-50/-50
East China region	92#	8450-9500	8400-9500	-50/0
	95#	8650-9800	8600-9800	-50/0
Northwestern region	92#	8330-10000	8330-9900	0/-100
	95#	8530-10450	8530-10270	0/-180
Southwest China	92#	8700-9200	8600-9200	-100/0
	95#	8950-9600	8900-9600	-100/0
Northeast China	92#	8350-9100	8350-9100	0/0
	95#	8580-10000	8580-10000	0/0

 

November 8 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.7	Price 11.8	Rise and fall
Shandong area	92#	8000-8300	7920-8250	-80/-50
	95#	8160-8450	8080-8420	-80/-30
North China region	92#	8100-8130	8000-8080	-100/-50
	95#	8150-8280	8050-8230	-100/-50
Central China	92#	8430-8430	8350-8350	-80/-80
	95#	8630-8630	8550-8550	-80/-80
East China region	92#	8130-8250	8100-8200	-30/-50
	95#	8250-8420	8220-8370	-30/-50
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#	8650-8650	8600-8600	-50/-50
	95#	8800-8800	8750-8750	-50/-50

 

Future forecast

From the perspective of international crude oil, the oil market has been giving up the gains brought about by geopolitical events recently. on the supply side, the increase in US commercial crude oil inventory data is higher than expected, Cushing inventory data also showed an increasing trend, and EIA on the demand side lowered its crude oil demand growth forecast for this year. The Fed is expected to raise interest rates to lower the international oil market as well. Overall, the negative risk of the market increases, and the international oil price faces the downside risk. On the supply side in China, traders' participation in market transactions increased last week as supply expectations fell, but the positive news cooled rapidly and support weakened as demand performance continued to be tired. Generally speaking, there are no positive factors in the current market demand, and it is expected that China's gasoline market will still have a downward trend in the short term.

 

 

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

Since 24:00 on November 7, 2023, the prices of gasoline and diesel oil in China have been reduced by 140yuan and 135yuan 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 November 21.

 

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	10205	9150
Tianjin	10170	9115
Hebei Province	10170	9115
Shanxi province	10240	9170
Liaoning province	10170	9115
Jilin Province	10170	9115
Heilongjiang province	10170	9115
Shanghai	10185	9120
Jiangsu Province	10225	9155
Zhejiang Province	10225	9170
Anhui province	10220	9165
Fujian Province	10245	9180
Jiangxi province	10225	9175
Shandong province	10180	9125
Hubei province	10195	9140
Hunan Province	10235	9200
Henan province	10190	9135
Hainan province	10315	9250
Chongqing	10385	9325
Guangdong province	10250	9185
Guangxi Zhuang Autonomous region	10315	9250
Ningxia Hui Autonomous region	10175	9115
Gansu province	10155	9135
Xinjiang Uygur Autonomous region	9950	9010
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	10185	9130
Chengdu city	10390	9350
Guiyang city	10350	9275
Kunming City	10380	9305
Xi'an city	10155	9125
Xining City	10135	9160

                                                                

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 9440 yuan and 8385 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.