Gasoline Market Analysis on May 8

Gasoline Market Analysis on May 8

International crude oil closes

Gasoline price index

On May 8, China's 92 #gasoline price index was 9,146.42, down 7.85, or 0.09%; China's 95 #gasoline price index was 9,446.21, down 8.11, or 0.09%. 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 299.79.

Gasoline Market Analysis:

Today, China's gasoline market is stable to weak. Among them, the low-end price of 92 in East China has been increased by 70 yuan/ton; the low-end price of North China has been reduced by 50 yuan/ton; the low-end price of 92 in Northeast and Southwest China has been reduced by 20 yuan/ton; High-end prices in Central China have been increased by 50 yuan/ton. The ex-factory prices of local refineries are stable and weak, with gasoline prices in Shandong being lowered by 10-40 yuan/ton; low-end prices in East China being lowered by 20 yuan/ton; and gasoline prices in North China being lowered by 10-30 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.

market outlook

Russian Deputy Prime Minister Novak said that OPEC+ has agreed to take action on crude oil production when necessary, and there are no plans to discuss increasing production for the time being, which will benefit the bearish game. Crude oil closed down overnight. The overall trading atmosphere in the gasoline market was light. There was no holiday support for demand. Gasoline demand was relatively stable, making it difficult to support the upward trend of oil prices. On the supply side, the market has a strong wait-and-see attitude. Most of the middle and lower reaches are in need of procurement, and refinery shipments are average. Overall, China's gasoline market is expected to fluctuate within a narrow range in the short term.