Gasoline: The favorable atmosphere in the market has weakened, and some of them have chosen to replenish goods at low prices

Gasoline: The favorable atmosphere in the market has weakened, and some of them have chosen to replenish goods at low prices

International crude oil closes

Gasoline price index

On February 19, China's 92 #gasoline price index was 8932.53, down 27.47, or 0.31%; China's 95 #gasoline price index was 9237.67, down 29.88, or 0.32%. 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 305.14.

Gasoline Market Analysis:

Today, China's gasoline market generally weakened, with wholesale prices of main units stable and weak, and gasoline prices in South China, Central China and East China have been lowered by 30-200 yuan/ton. The ex-factory price of local refineries in North and East China has been lowered by 30-50 yuan/ton. Gasoline prices in other regions have temporarily remained stable. At present, transactions in China's gasoline market have decreased, and the favorable market atmosphere has gradually been exhausted. The wait-and-see atmosphere among middle and lower reaches has reappeared, with some restocking at low levels; refinery shipments have slowed down significantly.

market outlook

Geopolitical tensions in international crude oil are still continuing, but the benefits are gradually being exhausted. On the demand side, U.S. crude oil demand is performing poorly, and commercial crude oil inventories may be accumulated. It is expected that the international crude oil market will have insufficient upward momentum in the short term. After returning from the holiday, there are certain replenishment operations in the market. In addition, after the holiday, the market has resumed work and production. However, at present, the market's post-holiday replenishment efforts are less than expected. Judging from the price adjustment mechanism of refined oil products, this adjustment of the retail price limit of refined oil products was stalled for the first time in the year, and the guidance was limited. Overall, China's gasoline market is expected to operate weakly in the short term.