Gasoline: International crude oil closed higher, while Chinese gasoline prices continued to rise

Gasoline: International crude oil closed higher, while Chinese gasoline prices continued to rise

International crude oil closes

Gasoline price index

On December 27, China's 92 #gasoline price index was 8740.17, up 46.73, or 0.54%; China's 95 #gasoline price index was 9064.48, up 44.48, or 0.49%. Both the 92 #gasoline index and the 95 #gasoline index were raised, and the price difference between the 92 #gasoline index and the 95 #gasoline index was 324.32.

Gasoline Market Analysis:

Today, the main wholesale price of gasoline in China continues to rise. Gasoline prices in most regions have continued to rise, concentrated at 50-100 yuan/ton. Gasoline prices in the northwest region are relatively stable. Ex-factory prices of local refineries in various regions in China continue to increase, with the increase concentrated at 50-150 yuan/ton. At present, transactions in China's gasoline market are hot, and the positive atmosphere before the holiday remains unchanged. The middle and lower reaches are still in the stage of hoarding, and refinery shipments are accelerating. Refinery concessions in areas with smooth sales will be reduced, or preferential policies will be directly cancelled. Overall, market transactions are hot.

market outlook

From the perspective of international crude oil, the Red Sea incident and conflict continue to ferment, and the impact of geopolitical events remains undiminished. Coupled with the increased support from the Federal Reserve's expected interest rate cuts, there is still room for upward growth in international oil prices. From the perspective of the Chinese market, positive factors during the New Year's Day holiday boosted the oil market. In addition, during the New Year's Day period, high-speed hazardous chemicals were banned, and advance preparations in the middle and lower reaches were concentrated this week. Refinery shipments have exceeded 100 production and sales for several consecutive days, and the replenishment situation in the middle and lower reaches is good; and there are only two days left before the holiday, and the hoarding operation before the holiday may be concluded one after another, but the main company's attitude towards supporting prices remains unchanged. Overall, China's gasoline market prices are expected to strengthen in the short term.