Gasoline: Lack of positive factors, the market is under pressure and downward

Gasoline: lack of positive factors, market pressure downward

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231109	America	WTI	75.74	0.41
20231109	The United Kingdom	Brent	80.01	0.47

 

Gasoline price index

On November 10, China's gasoline price index fell by 16.25, or 0.19%, to 8715.96, while China's gasoline price index fell by 29.57, or 0.32%, to 9071.40. 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 355.44.

 

Gasoline market analysis:

Today, the main wholesale of gasoline in China is mainly a slight reduction in the range in most areas, which has not yet broken through the lowest price. The ex-factory prices of georefining are mixed, of which gasoline prices in North China have been increased by 30 yuan per ton; gasoline prices in Central China and Southwest China have been reduced by 30-50 yuan per ton; gasoline prices in East China, Northwest China and Northeast China have remained unchanged. Gasoline prices in Shandong remain stable for the time being. At present, the turnover of China's gasoline market is weak, the international oil price has stopped stable but the support is limited after two consecutive days of decline, most of the markets hold a pessimistic attitude towards the future, and the preferential operation of refinery shipments is not reduced.

November 10 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.9	Price 11.10	Rise and fall
North China region	92#	8180-9600	8180-9600	0/0
	95#	8380-9900	8380-9900	0/0
South China	92#	8500-9500	8500-9500	0/0
	95#	8750-9800	8750-9800	0/0
Central China	92#	8400-8950	8400-8950	0/0
	95#	8550-9400	8550-9400	0/0
East China region	92#	8350-9500	8350-9500	0/0
	95#	8550-9800	8550-9800	0/0
Northwestern region	92#	8180-9900	8180-9900	0/0
	95#	8350-10270	8350-10270	0/0
Southwest China	92#	8580-9050	8580-9050	0/0
	95#	8850-9450	8850-9450	0/0
Northeast China	92#	8350-9100	8350-8900	0/-200
	95#	8580-10000	8580-10000	0/0

 

November 10 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.9	Price 11.10	Rise and fall
Shandong area	92#	7900-8220	7900-8220	0/0
	95#	8060-8390	8060-8390	0/0
North China region	92#	8030-8050	8030-8080	0/30
	95#	8100-8180	8130-8180	30/0
Central China	92#	8270-8270	8240-8240	-30/-30
	95#	8470-8470	8440-8440	-30/-30
East China region	92#	8050-8150	8050-8150	0/0
	95#	8170-8320	8170-8320	0/0
Northwestern region	92#	7950-8150	7950-8150	0/0
	95#	8150-8350	8150-8350	0/0
Northeast China	92#	8300-8400	8300-8400	0/0
	95#	8600-8600	8600-8600	0/0
Southwest China	92#	8550-8550	8500-8500	-50/-50
	95#	8700-8700	8650-8650	-50/-50

 

Future forecast

From the perspective of international crude oil, Israel has agreed to a temporary ceasefire in Gaza, geopolitical events have weakened, and the market has gradually weakened the risk of crude oil supply. Although OPEC+ reiterated its determination to reduce production, it has not made any new measures, and it needs to pay more attention to the current support for the November 26th meeting. In addition, the negative benefits brought by the relative weakness of the global economy are difficult to eliminate in the short term. Recently, the overall performance of the Chinese market is weak, the demand side continues to be light, the enthusiasm of operators to enter the market is low, the market is lack of positive factors, and refinery shipments are mainly. Taken together, China's gasoline market is expected to 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 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.