Gasoline: Cost support has increased, and some regions should explore appropriately

Gasoline: the support on the cost side is enhanced, and it is appropriate to explore in some areas.

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231113	America	WTI	78.26	1.09
20231113	The United Kingdom	Brent	82.52	1.09

 

Gasoline price index

On November 14, China's gasoline price index rose 4.69, or 0.05%, to 8714.09, while China's gasoline price index rose 3.65, or 0.04%, to 9068.89. The 9-month gasoline index and the 9-month gasoline index both rose, and the price difference between the 9-month gasoline index and the 9-month gasoline index was 354.81.

 

Gasoline market analysis:

Today, China's gasoline wholesale has stopped its decline and turned to rise, with gasoline prices rising in North China, South China, Central China and East China, concentrated in 20-100 yuan per ton, and mainly in the rest of the region. The ex-factory price of georefining has also been raised in some areas, including an increase of 30-70 yuan per ton in Shandong, North and East China, a reduction of 100 yuan per ton in high-end gasoline prices in Northeast China, and gasoline prices in Northwest and Southwest regions remain stable temporarily. At present, the overall turnover of China's gasoline market is OK, international oil prices have risen for three consecutive days, cost support has been strengthened, and refinery quotations have been raised, but demand support is still weak and refinery prices are limited.

November 14 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.13	Price 11.14	Rise and fall
North China region	92#	8180-9600	8200-9600	20/0
	95#	8380-9900	8400-9900	20/0
South China	92#	8500-9500	8550-9550	50/50
	95#	8750-9800	8800-9850	50/50
Central China	92#	8400-8950	8450-9000	50/50
	95#	8550-9150	8650-9200	100/50
East China region	92#	8350-9500	8370-9500	20/0
	95#	8500-9800	8520-9800	20/0
Northwestern region	92#	8180-9900	8180-9900	0/0
	95#	8350-10270	8350-10270	0/0
Southwest China	92#	8500-9000	8480-9000	-20/0
	95#	8800-9350	8800-9350	0/0
Northeast China	92#	8320-8900	8320-8900	0/0
	95#	8580-10000	8580-10000	0/0

 

November 14 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.13	Price 11.14	Rise and fall
Shandong area	92#	8000-8270	8030-8300	30/30
	95#	8100-8400	8100-8470	0/70
North China region	92#	8030-8080	8110-8150	80/70
	95#	8130-8180	8200-8200	70/20
Central China	92#	8210-8210	8210-8210	0/0
	95#	8410-8410	8410-8410	0/0
East China region	92#	8090-8240	8110-8240	20/0
	95#	8210-8410	8230-8410	20/0
Northwestern region	92#	7950-8150	7950-8150	0/0
	95#	8150-8350	8150-8350	0/0
Northeast China	92#	8300-8400	8300-8300	0/-100
	95#	8600-8600	8500-8500	-100/-100
Southwest China	92#	8450-8450	8450-8450	0/0
	95#	8600-8600	8600-8600	0/0

 

Future forecast

From the perspective of international crude oil, the latest monthly report released by OPEC increases the growth forecast of global crude oil demand this year by 20, 000 barrels per day and by a small margin. In addition, OPEC is optimistic about the fundamentals of the global oil market. However, the euro zone economy is still in the doldrums, and the monthly report of the International Energy Agency is about to release new guidelines. However, the terminal demand in the Chinese market is insufficient, the rigid demand in the middle and lower reaches is mainly replenished, the mentality of entering the market is more cautious, and the market has no favorable support for the lack of follow-up driving force. Overall, it is expected that China's gasoline market may be mainly stable 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.