Gasoline Market Analysis on May 11

Gasoline Market Analysis on May 11

International crude oil closes

Gasoline price index

On May 11, China's 92 #gasoline price index was 9109.34, down 25.69, or 0.29%; China's 95 #gasoline price index was 9410.07, down 25.00, or 0.26%. 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 300.73.

Gasoline Market Analysis:

Today, China's gasoline market is stable to weak, with low-end prices in East China and North China lowered by 30-50 yuan/ton; high-end prices in South China lowered by 30 yuan/ton. The high-end price of 92 gasoline in Northeast and Southwest regions will be lowered by 50 yuan/ton; the low-end price of 95 gasoline in Central China will be lowered by 20 yuan/ton. The ex-factory prices of local refineries mainly fell, with prices in Shandong, Northeast, East China, North China, Central China, and Southwest China lowered by 30-100 yuan/ton. At present, transactions in China's gasoline market continue to be light, the wait-and-see atmosphere in the middle and lower reaches continues, and refinery shipments perform generally.

market outlook

Fed officials hinted that interest rates will not come in the short term and that high interest rates will remain for some time. In an interview, U.S. President Biden issued the most severe warning yet against Israel's all-out ground offensive in the Rafah region. Data from the U.S. Energy Agency shows that the latest phase of gasoline demand is the weakest since 2020. Crude oil closed down overnight, and the news was negative. The buying and selling atmosphere in the gasoline market is relatively light, with a strong wait-and-see atmosphere in the middle and lower reaches, a mentality of consuming more warehouses, and a small amount of replenishment just needs to be replenished. Overall, China's gasoline market is expected to fluctuate within a narrow range in the short term.