Gasoline Market Analysis on May 7

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May 7, 2024, 3:40 PM

International crude oil closes

date	market	specifications	Closing (USD/barrel)	rise and fall
20240506	US	WTI	78.48	0.37
20240506	British	Brent	83.33	0.37

Gasoline price index

On May 7, China's 92 #gasoline price index was 9154.27, down 10.86, or 0.12%; China's 95 #gasoline price index was 9454.32, down 13.16, or 0.14%. 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 300.05.

Gasoline Market Analysis:

Today, China's gasoline market is mainly focused on maintaining stability, and adjustments are concentrated on low-end prices. Among them, the low-end price of 92 in East China is increased by 60 yuan/ton; the low-end price of 92 in Southwest China is reduced by 50 yuan/ton; and the low-end price of Central China is increased by 20 yuan/ton. The ex-factory price of local refining is stable and weak. Among them, the low-end price of 92 in Shandong is lowered by 30 yuan/ton, and the high-end price is increased by 10 yuan/ton; the high-end price in Northeast China is lowered by 50 yuan/ton; the low-end price in East China is lowered by 20 yuan/ton; Southwest China is lowered by 50 yuan/ton. At present, transactions in China's gasoline market continue to be light, procurement enthusiasm in the middle and lower reaches is average, and refinery shipments perform poorly.

Main wholesale price of gasoline on May 7 (yuan/ton)
areas	Gasoline model	Price 5.6	Price 5.7	rise and fall
East China	92#	8880-9300	8940-9300	60/0
East China	95#	8990-9980	8990-9980	0/0
South China	92#	9100-9930	9100-9930	0/0
South China	95#	9300-10230	9300-10230	0/0
in North China	92#	8730-10058	8730-10058	0/0
in North China	95#	8930-10437	8930-10437	0/0
northwestern region	92#	8750-10459	8750-10459	0/0
northwestern region	95#	8950-11068	8950-11068	0/0
Northeast China	92#	8800-9300	8800-9300	0/0
Northeast China	95#	9000-9650	9000-9650	0/0
southwestern region	92#	8950-9800	8900-9800	-50/0
southwestern region	95#	9200-10200	9200-10200	0/0
central China	92#	8900-9700	8920-9700	20/0
central China	95#	9050-10000	9070-10000	20/0

Ex-factory price of local gasoline refinery on May 7 (yuan/ton)
areas	Gasoline model	Price 5.6	Price 5.7	rise and fall
Shandong area	92#	8700-9020	8670-9030	-30/10
Shandong area	95#	8800-9180	8800-9190	0/10
northwestern region	92#	8450-8750	8450-8750	0/0
northwestern region	95#	8750-8950	8750-8950	0/0
Northeast China	92#	8727-8950	8727-8900	0/-50
Northeast China	95#	9150-9150	9100-9100	-50/-50
East China	92#	8740-8850	8720-8850	-20/0
East China	95#	8890-8960	8870-8960	-20/0
in North China	92#	8760-8780	8760-8780	0/0
in North China	95#	8830-8860	8830-8860	0/0
central China	92#	9000-9000	9000-9000	0/0
central China	95#	9200-9200	9200-9200	0/0
southwestern region	92#	9050-9050	9000-9000	-50/-50
southwestern region	95#	9200-9200	9150-9150	-50/-50

market outlook

Recently, the situation between Palestine and Israel has become unstable again. The military conflict between the two sides has not stopped. Although ceasefire negotiations have not yet ended, they have reached a deadlock. The negative pressure on international crude oil prices has eased. Crude oil closed up slightly overnight, which did not give a strong boost to the market. The trading atmosphere in the Chinese market continues to be cold, and the wait-and-see mentality in the middle and lower reaches still exists. Entering the market is cautious, and purchasing is the main focus. After the holiday, gasoline demand fell, and the buying and selling atmosphere became flat. Overall, China's gasoline market is expected to fluctuate within a narrow range in the short term.