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Gasoline: Oil prices in various regions have limited fluctuations, and market trading atmosphere is moderate

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January 10, 2024, 4:42 PM

Gasoline: Oil prices in various regions have limited fluctuations, and market trading atmosphere is moderate

International crude oil closes

 

date

market

specifications

Closing (USD/barrel)

rise and fall

20240109

US

WTI

72.24

1.47

20240109

British

Brent

77.59

1.47

 

Gasoline price index

On January 10, China's 92 #gasoline price index was 8808.17, down 4.18, or 0.05%; China's 95 #gasoline price index was 9119.21, down 4.21, or 0.05%. Both the 92 #gasoline index and the 95 #gasoline index were lowered, and the price difference between the 92 #gasoline index and the 95 #gasoline index was 311.04.

 

Gasoline Market Analysis:

Today, the main wholesale price of gasoline in China was mainly lowered in the region, while high-end gasoline prices in Southwest China fell slightly, down by 50 yuan/ton. The overall ex-factory prices of local refineries are relatively stable. Gasoline prices in Shandong fluctuate within a narrow range, and gasoline prices in some regions have increased. At present, transactions in China's gasoline market are light, and crude oil closed up overnight. However, basic purchases in China's middle and lower reaches have ended, with the main elimination of warehouses; market shipments are flat, and some main units still have transactions that are potentially beneficial. Overall, the market trading atmosphere is general and the wait-and-see atmosphere is strong.

Main wholesale price of gasoline on January 10 (yuan/ton)

areas

Gasoline model

Price 1.9

Price 1.10

rise and fall

in North China

92#

8400-9600

8400-9600

0/0

95#

8600-9900

8600-9900

0/0

South China

92#

8700-9550

8700-9550

0/0

95#

8900-9850

8900-9850

0/0

central China

92#

8750-9150

8750-9150

0/0

95#

8950-9450

8950-9450

0/0

East China

92#

8550-9100

8550-9100

0/0

95#

8750-9500

8750-9500

0/0

northwestern region

92#

8550-9800

8550-9800

0/0

95#

9000-10050

9000-10050

0/0

southwestern region

92#

8900-9250

8900-9200

0/-50

95#

9100-9700

9100-9650

0/-50

Northeast China

92#

8580-9150

8580-9150

0/0

95#

8730-9600

8730-9600

0/0

 

Ex-factory price of local gasoline refining on January 10 (yuan/ton)

areas

Gasoline model

Price 1.9

Price 1.10

rise and fall

Shandong area

92#

8250-8700

8250-8700

0/0

95#

8420-8900

8420-8900

0/0

in North China

92#

8440-8450

8440-8450

0/0

95#

8490-8550

8490-8550

0/0

central China

92#

8820-8820

8820-8820

0/0

95#

9020-9020

9020-9020

0/0

East China

92#

8370-8570

8370-8570

0/0

95#

8490-8680

8490-8680

0/0

northwestern region

92#

8450-8800

8450-8800

0/0

95#

8600-9000

8600-9000

0/0

Northeast China

92#

8380-8400

8380-8400

0/0

95#

8600-8600

8600-8600

0/0

southwestern region

92#

8900-8900

8900-8900

0/0

95#

9050-9050

9050-9050

0/0

 

market outlook

From the perspective of international crude oil, crude oil futures have fluctuated recently, repeatedly pulling and wavering. At present, API announced that crude oil inventories fell more than expected last week. Saudi Arabia has repeatedly emphasized its determination to reduce production, but there is still pressure to break through the upward trend. EIA crude oil inventory data will be released soon or bring new guidance. From the perspective of the Chinese market, the current demand for gasoline is average, and small orders are mainly purchased. However, the positive atmosphere during the Spring Festival still exists, and the market may wait for opportunities to purchase. Overall, China's gasoline market is expected to fluctuate within a narrow range in the short term.