Gasoline: The market returns to the supply and demand level, and the overall transaction atmosphere is light

Gasoline: the market returns to the level of supply and demand, and the overall transaction atmosphere is light

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231110	America	WTI	77.17	1.43
20231110	The United Kingdom	Brent	81.43	1.42

 

Gasoline price index

On November 13, China's gasoline price index fell by 8709.39, or 0.08%, while China's gasoline price index fell by 9065.24, or 0.07%. 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 355.85.

 

Gasoline market analysis:

Today, the main wholesale of gasoline in China is mainly arranged in most areas, but the price of gasoline in southwest and northeast China has been reduced by 30-100 yuan per ton. The ex-factory prices of georefining are both up and down compared with last Friday, including an increase of 30-100 yuan per ton in Shandong, North and East China, a reduction of 30-50 yuan per ton in central and southwest China, and no change in gasoline prices in Northwest and Northeast China. At present, China's gasoline market has returned to rigid demand after rising on Saturday, with insufficient downstream demand and strong bearish sentiment in the market; in addition, the pressure on refinery performance is increasing in the middle of the month, and preferential policies do not reduce the volume of goods sold.

November 13 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.10	Price 11.13	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#	8550-9150	8550-9150	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	8500-9000	-80/-50
	95#	8850-9450	8800-9350	-50/-100
Northeast China	92#	8350-8900	8320-8900	-30/0
	95#	8580-10000	8580-10000	0/0

 

November 13 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.10	Price 11.13	Rise and fall
Shandong area	92#	7900-8220	8000-8270	100/50
	95#	8060-8390	8100-8400	40/10
North China region	92#	8030-8080	8030-8080	0/30
	95#	8130-8180	8130-8180	30/0
Central China	92#	8240-8240	8210-8210	-30/-30
	95#	8440-8440	8410-8410	-30/-30
East China region	92#	8050-8150	8090-8240	40/90
	95#	8170-8320	8210-8410	40/90
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#	8500-8500	8450-8450	-50/-50
	95#	8650-8650	8600-8600	-50/-50

 

Future forecast

From the perspective of international crude oil, the focus of the market is gradually shifting from geopolitical events to fundamentals, but at present, sufficient supply of fundamentals superimposes weak demand, and the basic not optimistic is expected to form some negative guidance in the face of oil prices. In addition, most of them believe that WTI crude oil 75 US dollars per barrel is the key point, and more attention should be paid to the OPEC + meeting on November 26th. The Chinese market rose on Friday, spurred by the crude oil futures market, but soon returned to the dominance of supply and demand in China, with negative news from refineries running out and demand continuing to be light. In addition, the probability of a sharp reduction in the expectation of a new round of price limit adjustment is high, and the news is negative. Taken together, China's gasoline market is expected to decline slightly 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.