Gasoline: Some high-end quotations for the main business fell, and local refineries were operating at stable prices

Gasoline: the high-end price of the main part has dropped, and the price of local refineries has been running steadily.

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231124	America	WTI	75.54	-1.56
20231124	The United Kingdom	Brent	80.58	-0.84

 

Gasoline price index

On November 27th, China's gasoline price index fell 12.41, or 0.14%, to 8692.36, while China's gasoline price index fell 17.76, or 0.20%, to 9033.82. 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 341.46.

 

Gasoline market analysis:

Today, gasoline prices in China are mainly stable, but gasoline prices in North China, Central China and East China have been reduced by 50-200 yuan per ton and high-end prices have declined significantly. The ex-factory price of georefining fluctuated narrowly compared with Friday, with gasoline prices in Shandong, North China, Central China and Northeast China increased by 20-50 yuan per ton, while gasoline prices in Northeast China were reduced by 50 yuan per ton. Gasoline prices are stable in other regions. At present, the turnover of China's gasoline market is general, and the inventory in the middle and lower reaches is replenished at the lower level; near the end of the month, the main monthly tasks are different, and the quotations are flexibly adjusted according to their own situation, but the inventory of some refineries is relatively low, and the price-up mentality still exists.

November 27th wholesale price of gasoline (RMB / ton)
Area	Gasoline model	Price 11.24	Price 11.27	Rise and fall
North China region	92#	8250-9600	8200-9600	-50/0
	95#	8450-9900	8400-9900	-50/0
South China	92#	8580-9680	8580-9680	0/0
	95#	8830-9980	8830-9980	0/0
Central China	92#	8500-8800	8470-8700	-30/-100
	95#	8700-9050	8620-9050	-80/0
East China region	92#	8400-9500	8400-9300	0/-200
	95#	8570-9800	8570-9600	0/-200
Northwestern region	92#	8180-9800	8180-9800	0/0
	95#	8350-10100	8350-10100	0/0
Southwest China	92#	8450-9000	8450-9000	0/0
	95#	8750-9350	8750-9350	0/0
Northeast China	92#	8320-8850	8320-8850	0/0
	95#	8530-9800	8530-9800	0/0

 

November 27 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 11.24	Price 11.27	Rise and fall
Shandong area	92#	8050-8370	8050-8390	0/20
	95#	8240-8500	8240-8550	0/50
North China region	92#	8150-8220	8150-8250	0/30
	95#	8200-8320	8200-8350	0/30
Central China	92#	8380-8380	8430-8430	50/50
	95#	8580-8580	8630-8630	50/50
East China region	92#	8150-8380	8150-8380	0/0
	95#	8270-8530	8270-8530	0/0
Northwestern region	92#	7950-8150	7950-8150	0/0
	95#	8150-8350	8150-8350	0/0
Northeast China	92#	8300-8350	8250-8300	-50/-50
	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, the market is more likely to wait for the OPEC+ meeting and reach an agreement, and the market worry has improved. In addition, Germany's IFO business climate index in November has become the highest level since July, which forms a positive support for international oil prices, but there is no improvement in US commercial crude oil. Potential risks remain. In addition, the Israeli-Palestinian conflict has improved, geopolitical risks have turned back, and then the market will mainly wait and see the strength of OPEC+. In terms of terminal demand in China's gasoline market, the weather is getting cooler, the fuel consumption of automotive air conditioners is supported to some extent, but the overall performance is general, the mentality of price promotion of refineries is still there, the willingness to actively decline is not high, and the quotation is stable. On the whole, it is expected that China's gasoline market may stabilize 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.