Gasoline: There is a wait-and-see atmosphere in the market, and refinery shipments are flexible

Gasoline: There is a wait-and-see atmosphere in the market, and refinery shipments are flexible

International crude oil closes

Gasoline price index

On February 23, China's 92 #gasoline price index was 8899.37, down 21.04, or 0.24%; China's 95 #gasoline price index was 9207.48, down 16.62, or 0.18%. 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 308.11.

Gasoline Market Analysis:

Today, China's gasoline market continues to remain weak, with wholesale prices of main units stable and weak, and gasoline prices in Central, East and Northeast China have been lowered by 10-50 yuan/ton. The ex-factory price of local refineries dropped slightly, with gasoline prices in Shandong, North China, Central China and East China falling by 40-80 yuan/ton. At present, transactions in China's gasoline market are average. The replenishment efforts in the middle and lower reaches after the holiday are less than expected. There is a wait-and-see atmosphere in the market. The refinery shipment transaction policy is flexible. Refiners in areas with poor sales have slightly lowered their prices to stimulate shipments.

market outlook

The Palestinian-Israeli conflict in international crude oil is still continuing, and geopolitical uncertainty continues. The International Energy Agency is pessimistic about the growth rate of global crude oil demand. It is expected that there will be room for international oil prices to fall next week. On the demand side, gasoline demand declined after the holiday, and there is no holiday support next week, so the amount of gasoline is limited. Refinery's comprehensive refining profit fell, curbing refinery production speed. In addition, the pressure on refinery performance has increased at the end of the month, the willingness to hold prices has been weak, and the transaction policy is mainly based on volume concessions. Overall, China's gasoline market is expected to decline slightly in the short term.