Gasoline: Retail price limit is lowered and cashed, and China's main quotations are differentiated

Gasoline: retail price limit reduced and realized, China's main quotation differentiation

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231121	America	WTI	77.77	0.17
20231121	The United Kingdom	Brent	82.45	0.13

 

Gasoline price index

On November 22nd, China's gasoline price index was 8723.28, up 9.32, or 0.11%, while China's gasoline price index was 9055.29, down 17.86, or 0.2%. The 9-month gasoline index rose while the 9-month gasoline index fell, and the price difference between the 9-month gasoline index and the 9-month gasoline index was 332.01.

 

Gasoline market analysis:

Today, China's main wholesale gasoline prices are mixed, with gasoline prices in North China, South China and Southwest regions rising by 30-100 yuan per ton, while high prices in Northwest and Northeast regions fall by 100-200 yuan per ton. The ex-factory price of geo-refining is mainly stable, and the price of gasoline in Shandong, northeast and southwest regions has increased by 10-50 yuan per ton, while the price of gasoline in other regions remains unchanged. At present, the turnover in China's gasoline market is moderate, and the retail price limit of refined oil is reduced but superimposed by a continuous rise in cost, and the performance of the main price differentiation areas is different. Refinery shipments have improved slightly, but the wait-and-see mood remains.

November 22 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.21	Price 11.22	Rise and fall
North China region	92#	8250-9600	8300-9600	50/0
	95#	8450-9900	8500-9900	50/0
South China	92#	8550-9650	8580-9650	30/0
	95#	8800-9950	8830-9950	30/0
Central China	92#	8500-8750	8500-8750	0/0
	95#	8650-9050	8700-9050	50/0
East China region	92#	8400-9500	8400-9500	0/0
	95#	8570-9800	8570-9800	0/0
Northwestern region	92#	8180-9900	8180-9800	0/-100
	95#	8350-10270	8350-10100	0/-170
Southwest China	92#	8450-9000	8500-9000	50/0
	95#	8650-9300	8750-9350	100/50
Northeast China	92#	8300-8850	8320-8850	20/0
	95#	8530-10000	8530-9800	0/-200

 

November 22 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.21	Price 11.22	Rise and fall
Shandong area	92#	8080-8400	8080-8410	0/10
	95#	8150-8550	8260-8550	110/0
North China region	92#	8230-8270	8230-8270	0/0
	95#	8280-8370	8280-8370	0/0
Central China	92#	8380-8380	8380-8380	0/0
	95#	8580-8580	8580-8580	0/0
East China region	92#	8220-8410	8220-8410	0/0
	95#	8340-8560	8340-8560	0/0
Northwestern region	92#	7950-8150	7950-8150	0/0
	95#	8150-8350	8150-8350	0/0
Northeast China	92#	8300-8300	8300-8350	0/50
	95#	8500-8500	8500-8500	0/0
Southwest China	92#	8470-8470	8500-8500	30/30
	95#	8620-8620	8650-8650	30/30

 

Future forecast

From the international crude oil point of view, the recent OPEC+ meeting to be held more attention, the market is optimistic. But other potential risks should not be underestimated, the global economy as a whole remains tired and new EIA inventory data are about to be released or bring new guidance. The retail price limit in the Chinese market has been reduced, of which gasoline (standard) is reduced by 340 yuan per ton, but only in the northwest region, and not sharply in other regions; in addition, the decline in the Chinese market is limited due to the strengthening of cost support. On the whole, it is expected that the price of Chinese gasoline market will be 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 21, 2023, the prices of gasoline and diesel in China have been reduced by RMB340,330 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 December 5.

 

Schedule

Maximum retail price of gasoline and diesel in provinces, autonomous regions, cities and central cities

Unit: yuan / ton

                                                                

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 9100 yuan and 8055 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.