Gasoline Market Analysis on October 16

Gasoline Market Analysis on October 16

International crude oil closes

Gasoline price index

On October 16, China's 92 #gasoline price index was 7915.57, down 51.90, or 0.65%; China's 95 #gasoline price index was 8227.46, down 46.80, or 0.57%. 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 311.89.

Gasoline Market Analysis:

Today, the wholesale prices of main gasoline units in China are generally weak. Among them, low-end prices in East China, North China, Northwest China, and Northeast China have been lowered by 50-230 yuan/ton; South China, Southwest China, and Central China have been lowered by 40-130 yuan/ton; gasoline prices in other regions have been stable. The ex-factory price of local refineries has been lowered steadily and within a narrow range, with Shandong, Northwest, East China, Central China, and Southwest China lowering by 25-450 yuan/ton; low-end prices in North China lowering by 100 yuan/ton; gasoline prices in other regions stabilizing. Currently, the trading atmosphere in China's gasoline market is light.Crude oil on the cost side closed down continuously overnight. Although both Iran and Israel have taken tough positions, there has been no substantive military action. The market believes that geopolitical risks have been significantly reduced, and it is guided by the negative situation in the China market. Terminal demand continues to be weak. Procurement in the middle and lower reaches remains cautious, with a bearish attitude, a strong wait-and-see atmosphere, and refinery shipments are not good.

market outlook

In terms of international crude oil, tensions between Iran and Israel continue to ease. The market believes that the probability of intensifying conflict between the two sides is weakening, and it is expected that there may still be room for downward adjustment of crude oil.In terms of China's gasoline, the cost side's support for prices in the China market has weakened, and the demand side has continued to fall since the National Day. The lack of good news has boosted the industry, and the enthusiasm of industry operators to enter the market is average. In the middle of the month, the pressure on sales tasks of each main unit gradually increased, the confidence in supporting prices may weaken, and price reduction promotion operations may increase. On the whole, it is expected that China's gasoline market will mainly fluctuate within a narrow range in the short term.