Gasoline Market Analysis on September 23

Gasoline Market Analysis on September 23

International crude oil closes

Gasoline price index

On September 23, China's 92 #gasoline price index was 8153.57, down 129.41, or 1.56%; China's 95 #gasoline price index was 8453.89, down 133.85, or 1.56%. 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 300.32.

Gasoline Market Analysis:

Today, China's gasoline market is operating weakly, with prices in East China, South China, North China, and Northwest China lowered by 50-450 yuan/ton; 92 #prices in Northeast China lowered by 140-330 yuan/ton, and 95 #low-end prices were lowered by 110 yuan/ton; Low-end prices in Southwest China and Central China were lowered by 30-130 yuan/ton; gasoline prices in other regions were stable. The ex-factory price of local refining has been lowered overall, ranging from 30 to 160 yuan/ton. At present, the buying and selling atmosphere in China's gasoline market is light, and the overall market is mainly declining. In particular, the high-end prices of refineries in some regions and local areas have dropped widely. Most of the middle and lower reaches are in urgent need of procurement. The wait-and-see attitude has intensified, and refinery shipments are poor.

market outlook

The Federal Reserve has officially started to cut interest rates in September, and there are still expectations for interest rates in November. The instability in the Middle East continues unabated, tensions between Lebanon and Israel continue, and the United States is pessimistic about the Middle East peace talks.In terms of gasoline in China, crude oil fell overnight, giving negative guidanceTerminal demand has not changed significantly yet. There is a strong wait-and-see atmosphere in the middle and lower reaches, and procurement remains cautious.。As the National Day holiday approaches, there may be a small amount of stocking operations in the middle and lower reaches, but they are still mainly in need. In addition, a new round of retail price limits will be realized and lowered. Entering the second half of the month, the pressure on sales tasks of each main unit has increased, and there is no confidence in supporting prices. Overall, it is expected that China's gasoline market may still decline in the short term.