Gasoline: Retail price limit reduction is approaching, and the Chinese market continues to rise sharply

Gasoline: retail price limit is approaching, China's market continues to rise insufficient

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231117	America	WTI	75.89	2.99
20231117	The United Kingdom	Brent	80.61	3.19

 

Gasoline price index

On November 20, China's gasoline price index rose 7.84, or 0.09%, to 8697.10, while China's gasoline price index rose by 9055.75, or 0.07%. 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 358.64.

 

Gasoline market analysis:

Today, the main wholesale part of gasoline in China rose, with gasoline prices rising in North China, South China, Central China and Southwest China, with a range of 20-100 yuan per ton, mainly in East China and stable in Northwest China. The ex-factory price of Geo Refinery was steadily higher than that quoted on Friday, with gasoline prices in Shandong, North China, Central China, East China and Southwest China rising by 50-120 yuan per ton, while gasoline prices in Northeast and Northwest China remained unchanged. At present, the trading atmosphere in China's gasoline market is weaker than that over the weekend. International oil prices closed up gratifyingly last Friday, and the mentality of replenishment in the market has improved, but for a short period of time, the market price mentality has obviously dropped, and the market wait-and-see mentality has increased.

November 20 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.17	Price 11.20	Rise and fall
North China region	92#	8120-9600	8150-9600	30/0
	95#	8330-9900	8350-9900	20/0
South China	92#	8450-9550	8500-9550	50/0
	95#	8700-9850	8750-9850	50/0
Central China	92#	8400-8800	8480-8800	80/0
	95#	8550-9100	8650-9050	100/-50
East China region	92#	8350-9500	8350-9500	0/0
	95#	8520-9800	8520-9800	0/0
Northwestern region	92#	8180-9900	8180-9900	0/0
	95#	8350-10270	8350-10270	0/0
Southwest China	92#	8350-9000	8400-9000	50/0
	95#	8550-9300	8600-9300	50/0
Northeast China	92#	8300-8900	8300-8850	0/-50
	95#	8530-10000	8530-10000	0/0

 

November 20 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.17	Price 11.20	Rise and fall
Shandong area	92#	8050-8310	8050-8370	0/60
	95#	8150-8480	8150-8510	0/30
North China region	92#	8150-8160	8150-8240	0/80
	95#	8200-8260	8200-8340	0/80
Central China	92#	8240-8240	8350-8350	110/110
	95#	8440-8440	8550-8550	110/110
East China region	92#	8100-8250	8180-8390	80/140
	95#	8220-8420	8300-8540	80/120
Northwestern region	92#	7950-8150	7950-8150	0/0
	95#	8150-8350	8150-8350	0/0
Northeast China	92#	8300-8300	8300-8300	0/0
	95#	8500-8500	8500-8500	0/0
Southwest China	92#	8370-8370	8420-8420	50/50
	95#	8520-8520	8570-8570	50/50

 

Future forecast

From the perspective of international crude oil, market news said that OPEC+ may further reduce production at the meeting on November 26th, the supply side is tightened and expected to increase, and the market bullish mentality also increases. Short covering drives up oil prices, masking other negative factors affecting oil prices to gain the upper hand. However, the news of production reduction will have to wait for further confirmation and implementation, and follow-up developments will continue to be followed. Although the rise in international oil prices has led to a trading atmosphere in the Chinese market, terminal consumption has been slow to curb trading. In addition, the price limit adjustment is approaching, wide downgrade expectations are clear, negative news guidance. On the whole, the market continues to rise lack of momentum, and the low price resilience is OK. 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 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.