Gasoline Market Analysis on October 18
International crude oil closes
Gasoline price index
On October 18, China's 92 #gasoline price index was 7875.39, down 11.62, or 0.15%; China's 95 #gasoline price index was 8184.96, down 16.06, or 0.20%. 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 309.57.
Gasoline Market Analysis:
Today, the wholesale price of main gasoline units in China is generally stable and weak. Among them, the high-end price of 92 #in South China has been lowered by 20 yuan/ton; the low-end price of 92 #in North China has been lowered by 40 yuan/ton; The low-end price in Southwest China has been lowered by 80-150 yuan/ton, and the high-end price of 92 #has been lowered by 100 yuan/ton; the low-end price in Central China has been lowered by 20 yuan/ton; gasoline prices in other regions have been stable. The ex-factory price of local refining has been adjusted steadily and within a narrow range. High-end prices in Shandong have been lowered by 70 yuan/ton; in East China, they have been lowered by 15-70 yuan/ton; and gasoline prices in other regions have been stable. Currently, the trading atmosphere in China's gasoline market is light.Crude oil on the cost side closed up within a narrow range overnight. Iran and Israel still had no substantive action. Geophysical tensions continued to ease. China's third-quarter GDP data was slightly better than expected, but the market's response to this was relatively flat. Overall, the positive support brought by the China market was limited. 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, the geopolitical slowdown and continued concerns about the demand outlook are expected, and there is still room for downward adjustment in crude oil.In terms of gasoline in China, the cost side has average support for prices in the China market, but the demand side still lacks significant positive pull. The industry has average enthusiasm for entering the market and average enthusiasm for purchasing, and most of them hold a bearish attitude and wait and see. 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.
