Gasoline Market Analysis on June 5

Gasoline Market Analysis on June 5

International crude oil closes

Gasoline price index

On June 5, China's 92 #gasoline price index was 8988.29, down 25.13, or 0.28%; China's 95 #gasoline price index was 9277.77, down 32.06, or 0.34%. 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 289.48.

Gasoline Market Analysis:

China's gasoline market fell today, with East China cutting prices by 20-430 yuan/ Tons; 92 #in South China has been lowered by 50-100, and the high-end price of 95 #has been lowered by 50 yuan/ton; the low-end price of North China and Central China has been lowered by 30 yuan/ton; the low-end price of 92 #in Northeast China and Southwest China has been lowered by 20-50 yuan/ton; Gasoline prices in other regions are stable. The ex-factory price of local refineries is stable and weak, with the low-end price of 95 #in Shandong being lowered by 100 yuan/ton; in East China and Central China, it being lowered by 30-60 yuan/ton; and gasoline prices in other regions being stable. At present, transactions in China's gasoline market are light, international crude oil has closed down continuously, cost support is insufficient, procurement enthusiasm in the middle and lower reaches is average, price reduction promotion operations in some regions have increased, and refinery shipments are poor.

market outlook

The negative sentiment caused by the possible gradual increase in production by OPEC+ starting in October has not dissipated, and short-term pressure still exists. International crude oil prices continued to fall broadly at the close, suppressing the mentality of middle and lower reaches. In China's gasoline market, market procurement enthusiasm is average, and the wait-and-see atmosphere in the middle and lower reaches continues to increase. The main inventory is digested and purchased on demand. The pressure on the main tasks at the beginning of the month is relatively low, and the confidence to support prices is strong. Overall, the negative trend is entangled and pulling oil prices. China's gasoline market is expected to fluctuate within a narrow range in the short term.