Gasoline Market Analysis on October 21

Gasoline Market Analysis on October 21

International crude oil closes

Gasoline price index

On October 21, China's 92 #gasoline price index was 789.81, down 35.59, or 0.45%; China's 95 #gasoline price index was 8148.96, down 36, or 0.44%. 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 309.16.

Gasoline Market Analysis:

Today, the wholesale prices of main gasoline units in China are generally stable and weak, and are concentrated at low-end prices. Among them, low-end prices in South China, North China, Northeast China, and Central China have been lowered by 30-150 yuan/ton; South China has increased by 20-50 yuan/ton; the low-end price of 92 #in Southwest China has been lowered by 30 yuan/ton, and the price of 95 #has been lowered by 30-100 yuan/ton; gasoline prices in other regions have been stable. The overall ex-factory price of local refineries has shown a downward trend, with Shandong, Northeast, East and Central China lowered to 40-80 yuan/ton; the low-end price in Northwest and North China lowered by 20-200 yuan/ton; the southwest region increased by 50 yuan/ton; gasoline prices in other regions were stable. Currently, the trading atmosphere in China's gasoline market is light.Overnight crude oil on the cost side closed down within a narrow range. There has been no substantial escalation of the conflict between Iran and Israel. Geophysical tensions continue to ease, and support for the China gasoline market is weak. Terminal demand has no positive factors to improve. Downstream operators have average enthusiasm to enter the market, and most of them hold a bearish attitude. The wait-and-see attitude has intensified, and refinery shipments have slowed down significantly.

market outlook

In terms of international crude oil, geopolitical easing remains the focus of the market, and it is expected that there may still be room for downward adjustment of crude oil.In terms of gasoline in China, the cost side is guided by negative market guidance, while the demand side continues to be weak. The middle and lower reaches are just in need of purchasing, and most of them are mainly based on the elimination of warehouses. Entering the second half of the month, the pressure on sales tasks of each main unit is gradually increasing, the confidence in supporting prices may weaken, and price reduction promotions may increase. On the whole, it is expected that China's gasoline market will mainly fluctuate within a narrow range in the short term.