Gasoline: Crude oil closed up continuously, and the Chinese market took advantage of the momentum to rise

Gasoline: crude oil closed up continuously, and the Chinese market took advantage of the opportunity to rise.

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231120	America	WTI	77.6	1.71
20231120	The United Kingdom	Brent	82.32	1.71

 

Gasoline price index

On November 21, China's gasoline price index rose 16.86, or 0.19%, to 8713.96, while China's gasoline price index rose 17.40, or 0.19%, to 9073.15. 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 359.19.

 

Gasoline market analysis:

Today, China's gasoline wholesale sector continues to push up, with gasoline prices in North China, South China, East China and Southwest China rising by a range of 20-100 yuan per ton. The price of gasoline in Central China has been sorted out, and the quotations in Northwest and Northeast China have not been adjusted. The ex-factory price of gasoline in Shandong, North China, Central China, East China and Southwest China yesterday concentrated on 30-50 yuan per ton, while gasoline prices in Northeast and Northwest China were relatively stable. At present, the turnover in China's gasoline market is mediocre, the international oil price has risen continuously, and most of China's main units and local refineries have pushed up, but the performance of substantive demand is mediocre, and traders buy in low places with a short replenishment time.

November 21 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.20	Price 11.21	Rise and fall
North China region	92#	8150-9600	8250-9600	100/0
	95#	8350-9900	8450-9900	100/0
South China	92#	8500-9550	8550-9650	50/100
	95#	8750-9850	8800-9950	50/100
Central China	92#	8480-8800	8500-8750	20/-50
	95#	8650-9050	8650-9050	0/0
East China region	92#	8350-9500	8400-9500	50/0
	95#	8520-9800	8570-9800	50/0
Northwestern region	92#	8180-9900	8180-9900	0/0
	95#	8350-10270	8350-10270	0/0
Southwest China	92#	8400-9000	8450-9000	50/0
	95#	8600-9300	8650-9300	50/0
Northeast China	92#	8300-8850	8300-8850	0/0
	95#	8530-10000	8530-10000	0/0

 

November 21 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.20	Price 11.21	Rise and fall
Shandong area	92#	8050-8370	8080-8400	30/30
	95#	8150-8510	8150-8550	0/40
North China region	92#	8150-8240	8230-8270	80/30
	95#	8200-8340	8280-8370	80/30
Central China	92#	8350-8350	8380-8380	30/30
	95#	8550-8550	8580-8580	30/30
East China region	92#	8180-8390	8220-8410	40/20
	95#	8300-8540	8340-8560	40/20
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#	8420-8420	8470-8470	50/50
	95#	8570-8570	8620-8620	50/50

 

Future forecast

From the perspective of international crude oil, data from the Institute of Chicago show that the possibility of further production reduction of OPEC+ on the 26th is more than 53%, and the market is optimistic about the expected production reduction on the supply side of OPEC+. Although the OPEC+ meeting has not yet been held, the market's attention to it has increased significantly, pushing up oil prices. At the same time, the fall of the US dollar and the rise of US stocks are the icing on the cake. The price limit in the Chinese market is expected to fall by a wide margin, but the expectation is clear, but the international oil price is rising continuously, which is a bad and good game. The market takes advantage of the opportunity to push up, but the wait-and-see mentality still exists in the middle and lower reaches, and most of them wait for the price adjustment to enter the market. On the whole, it is expected that the price of China's gasoline market will be stable and fluctuate upwards 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.