Gasoline: Refiners have raised their quotations one after another, and the focus of market transactions has shifted upwards

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January 29, 2024, 5:33 PM

International crude oil closes

date	market	specifications	Closing (USD/barrel)	rise and fall
20240126	US	WTI	78.01	0.65
20240126	British	Brent	83.55	1.12

Gasoline price index

On January 29, China's 92 #gasoline price index was 883.13, an increase of 37.75, or 0.43%; China's 95 #gasoline price index was 9191.85, an increase of 36.48, or 0.40%. 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 308.72.

Gasoline Market Analysis:

The main gasoline market in China has seen a significant increase today. Among them, the wholesale prices of units are stable and strong, with the increase range concentrated at 50-100 yuan/ton; the ex-factory price of local refiners is increased by 30-60 yuan/ton. Currently, transactions in China's gasoline market are heating up. In the final stage of market hoarding before the Spring Festival this week, the frequency of purchases by middle and lower reaches of the market has accelerated. Refiners have a strong willingness to support prices. The trading atmosphere has improved significantly. Refiners have successively raised their quotations, and the focus of market transactions has shifted.

Main wholesale price of gasoline on January 29 (yuan/ton)
areas	Gasoline model	Price 1.26	Price 1.29	rise and fall
in North China	92#	8500-9364	8550-9364	50/0
in North China	95#	8700-9719	8750-9719	50/0
South China	92#	8800-9350	8980-9400	80/50
South China	95#	9130-9800	9230-9850	100/50
central China	92#	8800-9300	8800-9350	0/50
central China	95#	8950-9600	8950-9650	0/50
East China	92#	8650-9100	8680-9100	30/0
East China	95#	8850-9500	8900-9500	50/0
northwestern region	92#	8680-9765	8680-9765	0/0
northwestern region	95#	8880-10070	8880-10070	0/0
southwestern region	92#	8930-9350	8930-9350	30/100
southwestern region	95#	9130-9800	9130-9800	80/100
Northeast China	92#	8600-9000	8650-9000	50/0
Northeast China	95#	8730-9600	8730-9600	0/0

Ex-factory price of local gasoline refining on January 29 (yuan/ton)
areas	Gasoline model	Price 1.26	Price 1.29	rise and fall
Shandong area	92#	8320-8790	8360-8850	40/60
Shandong area	95#	8460-8950	8510-9010	50/60
in North China	92#	8450-8450	8500-8510	50/60
in North China	95#	8500-8550	8550-8610	50/60
central China	92#	8640-8640	8670-8670	30/30
central China	95#	8840-8840	8870-8870	30/30
East China	92#	8410-8560	8460-8620	50/60
East China	95#	8530-8670	8580-8730	50/60
northwestern region	92#	8400-8600	8400-8600	0/0
northwestern region	95#	8550-8800	8550-8800	0/0
Northeast China	92#	8300-8430	8300-8430	0/0
Northeast China	95#	8500-8600	8500-8600	0/0
southwestern region	92#	8900-8900	8950-8950	50/50
southwestern region	95#	9050-9050	9100-9100	50/50

market outlook

In terms of international crude oil, the market focus is mostly on the upcoming OPEC+ meeting and the Federal Reserve meeting, which may bring new guidance. Combined with strong performance of U.S. economic data, oil prices are supported. The Spring Festival is approaching, and the market may have a holiday next week. This week is mostly the final stage of centralized stocking in the market. In addition, the new round of retail price limit expectations will increase, and costs will rise. Good news will boost the oil market. In addition, from January 31 to February 5, large-scale persistent rain, snow and freezing weather will occur in central and eastern China, and heavy snowstorms or heavy snowstorms will occur in many places. With the increase in rain and snow, the market is likely to complete the stocking operation before severe weather comes. Overall, China's gasoline market is expected to rise steadily in the short term.