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Gasoline Market Analysis on May 17

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May 17, 2024, 3:48 PM

Gasoline Market Analysis on May 17

International crude oil closes

 

date

market

specifications

Closing (USD/barrel)

rise and fall

20240516

US

WTI

79.23

0.6

20240516

British

Brent

83.27

0.52

 

Gasoline price index

On May 17, China's 92 #gasoline price index was 8997.50, down 5.27, or 0.06%; China's 95 #gasoline price index was 9300.62, down 2.61, or 0.03%. 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 303.12.

 

Gasoline Market Analysis:

Today, China's gasoline market has both ups and downs, and is concentrated on low-end prices. Among them, the low-end price of 92 gasoline in North China has been lowered by 30 yuan/ton; the low-end price of 95 gasoline in Northeast China has been increased by 20 yuan/ton; and the low-end price in East China and South China has been raised by 20-50 yuan/ton. The ex-factory price of local refineries is mainly stable, with the low-end price of 92 gasoline in Northeast China being increased by 40 yuan/ton. At present, the transaction atmosphere in China's gasoline market is moderate. International crude oil has closed up. Cost has provided support. The middle and lower reaches are still mainly in need of procurement. Refinery shipments have performed poorly, and price reduction promotions have increased.

 

Main wholesale price of gasoline on May 17 (yuan/ton)

areas

Gasoline model

Price 5.16

Price 5.17

rise and fall

East China

92#

8680-9300

8700-9300

20/0

95#

8830-9980

8850-9980

20/0

South China

92#

8800-9850

8850-9850

50/0

95#

9000-10150

9050-10150

50/0

in North China

92#

8530-9809

8500-9809

-30/0

95#

8700-10179

8700-10179

0/0

northwestern region

92#

8650-10210

8650-10210

0/0

95#

8850-10805

8850-10805

0/0

Northeast China

92#

8620-9250

8620-9250

0/0

95#

8800-9650

8820-9650

20/0

southwestern region

92#

8750-9700

8750-9700

0/0

95#

9050-10000

9050-10000

0/0

central China

92#

8800-9600

8800-9600

0/0

95#

8950-9900

8950-9900

0/0

 

Ex-factory price of local gasoline refining on May 17 (yuan/ton)

areas

Gasoline model

Price 5.16

Price 5.17

rise and fall

Shandong area

92#

8380-8800

8380-8800

0/0

95#

8530-8960

8530-8960

0/0

northwestern region

92#

8350-8650

8350-8650

0/0

95#

8600-8850

8600-8850

0/0

Northeast China

92#

8460-8700

8500-8700

40/0

95#

8900-8900

8900-8900

0/0

East China

92#

8520-8780

8520-8780

0/0

95#

8650-8890

8650-8890

0/0

in North China

92#

8470-8510

8470-8510

0/0

95#

8520-8610

8520-8610

0/0

central China

92#

8870-8870

8870-8870

0/0

95#

9070-9070

9070-9070

0/0

southwestern region

92#

8850-8850

8850-8850

0/0

95#

9000-9000

9000-9000

0/0

 

market outlook

 New news and demand prospects for OPEC+ production cuts, but recent Fed officials remain cautious about interest rate cuts and still lack guidance on important events. Crude oil prices rose overnight for two consecutive days, and the National Development and Reform Commission's current retail prices were lowered, which was good for the bearish game. The purchasing and selling atmosphere in the gasoline market is relatively mild, and the enthusiasm for purchasing in the middle and lower reaches is average. In addition, entering the latter part of the month, the business pressure of various sales units has increased, and they lack the confidence to support prices. Overall, China's gasoline market is expected to fluctuate within a narrow range in the short term.