Gasoline: Retail price limit is lowered and cashed, gasoline market is weak

Gasoline: retail price limit is reduced and gasoline market is weak.

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231205	America	WTI	72.32	-0.72
20231205	The United Kingdom	Brent	77.2	-0.83

 

Gasoline price index

On December 6, China's gasoline price index fell 13, or 0.14%, to 8718, while China's gasoline price index fell 19, or 0.21%, to 9052. 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 334.

 

Gasoline market analysis:

Today, the wholesale price of gasoline in China is mainly down, with gasoline prices in South China, Central China and Northwest China reduced by 40-80 yuan per ton. The rest of the price zone is mainly arranged. Most of the local refineries in China have lowered their quotations, and the ex-factory price of georefining has been reduced by 20-50 yuan / ton. However, gasoline prices in the northwest and northeast regions are relatively stable. At present, the trading atmosphere in China's gasoline market is weak, the market wait-and-see mood is unabated, and the rigid demand is mainly replenished; refineries are flexible to adjust their quotations but are less willing to fall sharply.

December 6 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 12.5	Price 12.6	Rise and fall
North China region	92#	8280-9600	8280-9600	0/0
	95#	8480-9900	8480-9900	0/0
South China	92#	8600-9700	8550-9650	-50/-50
	95#	8800-10000	8750-9500	-50/-50
Central China	92#	8600-8900	8550-8900	-50/0
	95#	8750-9250	8700-9250	-50/0
East China region	92#	8400-9300	8400-9300	0/0
	95#	8650-9600	8650-9600	0/0
Northwestern region	92#	8350-9800	8350-9760	0/-40
	95#	8550-10100	8550-10020	0/-80
Southwest China	92#	8450-9100	8450-9100	0/0
	95#	8650-9550	8650-9550	0/0
Northeast China	92#	8400-8850	8400-8850	0/0
	95#	8600-9800	8600-9800	0/0

 

December 6 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 12.5	Price 12.6	Rise and fall
Shandong area	92#	8150-8470	8130-8470	-20/0
	95#	8310-8610	8290-8610	-20/0
North China region	92#	8260-8270	8240-8290	-20/20
	95#	8320-8360	8290-8390	-40/30
Central China	92#	8500-8500	8470-8470	-30/-30
	95#	8700-8700	8670-8670	-30/-30
East China region	92#	8220-8450	8200-8450	-20/0
	95#	8320-8580	8300-8580	-20/0
Northwestern region	92#	8050-8350	8050-8350	0/0
	95#	8500-8550	8500-8550	0/0
Northeast China	92#	8300-8350	8300-8300	0/-50
	95#	8500-8550	8500-8500	0/-50
Southwest China	92#	8700-8700	8700-8700	0/0
	95#	8850-8850	8850-8850	0/0

 

Future forecast

From the perspective of international crude oil, Saudi Arabia reduced its official price to Asia by 50 cents. In addition, even though traders' pessimism about the future did not improve significantly after the OPEC + meeting announced further production cuts, the supporting effect of production reduction measures on the bottom of oil prices has weakened. Crude oil closed down for four consecutive working days, reflecting weak supply and demand in the crude oil market in many aspects. Next, we will continue to pay attention to whether the crude oil inventory data bring new signals. From the point of view of the refined oil price adjustment mechanism, the retail price limit is expected to be reduced, and the news is a negative guide. There is no significant improvement in Chinese demand, and terminal demand is relatively stable, resulting in a lack of upward momentum. However, on the supply side, independent refinery inventories are relatively low, and the main collection prices have been supported in December. 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

As of 24:00 on December 5, 2023, the prices of gasoline and diesel in China (standard products, the same below) will be reduced by 55 yuan and 50 yuan 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 19.

 

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 9045 yuan and 8005 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.