Gasoline Market Analysis on February 28

Gasoline Market Analysis on February 28

International crude oil closes

Gasoline price index

On February 28, China's 92 #gasoline price index was 8870.35, down 4.76, or 0.05%; China's 95 #gasoline price index was 9177.01, down 9.76, or 0.11%. 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 306.66.

Gasoline Market Analysis:

Today, the main wholesale price of gasoline in China fluctuated within a narrow range. Specifically, gasoline prices in South China, Northeast China and East China have increased by 20-50 yuan/ton. The ex-factory price of local refineries has increased slightly, with gasoline prices in Shandong, North China, Central China and East China increasing by 20-60 yuan/ton. Gasoline prices in the Northwest, Northeast and Southwest regions are relatively stable. At present, the transaction atmosphere in China's gasoline market is relatively active. Traders purchase at low prices, international oil prices have closed up, local refinery shipments have performed well, and prices have been slightly increased in areas with better sales.

market outlook

In terms of international crude oil, Goldman Sachs expects OPEC + to extend production reduction measures, the supply level is expected to tighten, and geopolitical uncertainty continues. Coupled with the improvement of Asian demand prospects, international oil prices are expected to have room to rise. Demand for gasoline in the Chinese market lacks holiday support, and demand performance is relatively weak. However, combined with increased cost-side support, the stimulus boosted the gasoline market. Overall, China's gasoline market is expected to fluctuate within a narrow range in the short term.