Gasoline: The retail price limit is approaching, and the gasoline market is running tired

Gasoline: retail price limit is approaching, gasoline market is running tired

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20231215	America	WTI	71.43	-0.15
20231215	The United Kingdom	Brent	76.55	-0.06

 

Gasoline price index

On December 18, China's gasoline price index rose 2.24, or 0.03%, to 8699.16, while China's gasoline price index rose 2.27, or 0.03%, to 9032.18. 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 333.02.

 

Gasoline market analysis:

Today, the main wholesale price of gasoline in various regions of China is still relatively strong, mainly adjusted slightly in the region, and the low-end price of gasoline has been lowered in some regions. The ex-factory price of georefining fluctuates in a narrow range, in which gasoline prices in Shandong, North China, East China and Southwest China are reduced by 20-60 yuan per ton, gasoline prices in Central China are increased by 20 yuan per ton, and gasoline prices in Northwest and Northeast China are relatively stable. At present, the transaction atmosphere in China's gasoline market is not good, a new round of retail price limit reduction is approaching, the market has a strong wait-and-see atmosphere, the main units are willing to raise prices well to complete their annual tasks, and refineries are more flexible to adjust prices according to market conditions, and preferential policies for transactions still exist.

December 18 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 12.15	Price 12.18	Rise and fall
North China region	92#	8300-9600	8250-9600	-50/0
	95#	8480-9900	8430-9900	-50/0
South China	92#	8550-9600	8550-9600	0/0
	95#	8750-9900	8750-9900	0/0
Central China	92#	8550-8800	8500-8800	-50/0
	95#	8750-9100	8700-9100	-50/0
East China region	92#	8400-9300	8400-9300	0/0
	95#	8600-9600	8600-9600	0/0
Northwestern region	92#	8350-9760	8350-9760	0/0
	95#	8500-10020	8500-10020	0/0
Southwest China	92#	8600-9000	8600-9000	0/0
	95#	8800-9350	8800-9350	0/0
Northeast China	92#	8350-8800	8350-8800	0/0
	95#	8600-9800	8600-9800	0/0

 

The ex-factory price of gasoline refining on December 18 (RMB / ton)
Area	Gasoline model	Price 12.15	Price 12.18	Rise and fall
Shandong area	92#	8050-8380	7990-8360	-60/-20
	95#	8220-8520	8160-8500	-60/-20
North China region	92#	8150-8200	8100-8170	-50/-30
	95#	8200-8300	8150-8270	-50/-30
Central China	92#	8410-8410	8430-8430	20/20
	95#	8610-8610	8630-8630	20/20
East China region	92#	8180-8390	8180-8350	0/-40
	95#	8300-8520	8300-8480	0/-40
Northwestern region	92#	8050-8350	8050-8350	0/0
	95#	8500-8550	8500-8550	0/0
Northeast China	92#	8300-8300	8300-8300	0/0
	95#	8500-8500	8500-8500	0/0
Southwest China	92#	8600-8600	8550-8550	-50/-50
	95#	8750-8750	8700-8700	-50/-50

 

Future forecast

From the international crude oil point of view, from the supply side, Saudi Arabia and other production reduction countries are relatively firm, in addition, Russia will continue to reduce crude oil exports, the supply-level tightening situation continues, but there is still uncertainty about the Fed interest rate cut. International oil prices may have room to rise. From the perspective of the Chinese market, the tired operation of the market, coupled with a new round of retail price reduction is about to be fulfilled, this will be the first six consecutive falls this year, the market pessimism continues unabated, and the enthusiasm of operators to enter the market is low. Taken together, China's gasoline market is expected to continue to be weak 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.