Gasoline: International crude oil guidance weakens, and the Chinese market stabilizes

Gasoline: international crude Oil guidance weakens and China's Market stabilizes

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231123	America	WTI	-	-
20231123	The United Kingdom	Brent	81.42	-0.54

Note: WTI crude oil futures will be closed during the Thanksgiving holiday in the United States with no settlement price.

Gasoline price index

On November 24, China's gasoline price index fell by 8704.78, or 0.02%, while that of China's gasoline price index was 9051.58, down 2.53, or 0.03%. 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 346.81.

 

Gasoline market analysis:

Today, China's gasoline prices are mainly stable, fluctuating in a narrow range in some areas, and the floating range is mostly maintained at 50 yuan / ton. The ex-factory price of georefining has been reduced slightly, among which the price of gasoline in Shandong, North China and East China has been reduced by 20-40 yuan per ton, while the price of gasoline in other regions remains unchanged. At present, the turnover of China's gasoline market is light, and the market wait-and-see mood is strong; near the end of the month, refineries have different performance, and most of them flexibly adjust quotations according to their own conditions, and in areas with poor sales, preferential policies are still under pressure.

November 24 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 11.23	Price 11.24	Rise and fall
North China region	92#	8300-9600	8250-9600	-50/0
	95#	8500-9900	8450-9900	-50/0
South China	92#	8580-9680	8580-9680	0/0
	95#	8830-9980	8830-9980	0/0
Central China	92#	8500-8750	8500-8800	0/50
	95#	8700-9050	8700-9050	0/0
East China region	92#	8400-9500	8400-9500	0/0
	95#	8570-9800	8570-9800	0/0
Northwestern region	92#	8180-9800	8180-9800	0/0
	95#	8350-10100	8350-10100	0/0
Southwest China	92#	8500-9000	8450-9000	-50/0
	95#	8750-9350	8750-9350	0/0
Northeast China	92#	8320-8850	8320-8850	0/0
	95#	8530-9800	8530-9800	0/0

 

November 24 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.23	Price 11.24	Rise and fall
Shandong area	92#	8080-8390	8050-8370	-30/-20
	95#	8260-8500	8240-8500	-20/0
North China region	92#	8180-8220	8150-8220	-30/0
	95#	8230-8320	8200-8320	-30/0
Central China	92#	8380-8380	8380-8380	0/0
	95#	8580-8580	8580-8580	0/0
East China region	92#	8190-8380	8150-8380	-40/0
	95#	8310-8530	8270-8530	-40/0
Northwestern region	92#	7950-8150	7950-8150	0/0
	95#	8150-8350	8150-8350	0/0
Northeast China	92#	8300-8350	8300-8350	0/0
	95#	8500-8500	8500-8500	0/0
Southwest China	92#	8500-8500	8500-8500	0/0
	95#	8650-8650	8650-8650	0/0

 

Future forecast

From the perspective of international crude oil, although the OPEC + meeting was postponed until next Thursday, the resulting concerns gradually abated. And there is news that the postponement of the meeting is only in the hope of having more time for negotiations, and the market is still optimistic that it is more likely to delay the production reduction deadline. Next week's OPEC + meeting is expected to give new impetus to oil prices. Recently, the gasoline market has been in a downward trend for two months, the possibility of a sharp decline in the market has weakened, and the overall trend has stabilized. Generally speaking, the price of Chinese gasoline market is expected to be stable and fluctuate in 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 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.