Gasoline Market Analysis on October 22

Gasoline Market Analysis on October 22

International crude oil closes

Gasoline price index

On October 22, China's 92 #gasoline price index was 7825.04, down 14.76, or 0.19%; China's 95 #gasoline price index was 8132.29, down 16.67, 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 307.24.

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, the low-end prices in East China have been increased by 100 yuan/ton; the low-end prices in South China, Northwest China, and Central China have been lowered by 30-200 yuan/ton; the low-end price of 95 #in Northeast China has been increased by 20 yuan/ton; gasoline prices in other regions have been stable. The overall ex-factory price of local refining continues to be weak. The low-end price of 92 #in Shandong has been lowered by 30 yuan/ton; the northwest and southwest regions has been lowered by 50-200 yuan/ton; the low-end price of East China has been lowered by 30 yuan/ton, and the high-end price of 95 #has been lowered by 45 yuan/ton; gasoline prices in other regions have been stable. Currently, the trading atmosphere in China's gasoline market is light.Cost side crude oil closed up overnight. Israel said it would not attack non-military targets in Iran. There was also news that the Israeli cabinet had not approved a strike plan on Iran, which was generally supported by the China gasoline market. Terminal demand continues to be sluggish and has no positive pull. Downstream operators are generally enthusiastic about entering the market, their wait-and-see attitude has not eased, and refinery shipments have slowed down significantly.

market outlook

In terms of international crude oil, the continued easing of geopolitics and weak demand remain the main concerns of the market. The IMF's latest economic outlook report is also expected to release positive results, and crude oil prices are expected to fluctuate within a narrow range.In terms of gasoline in China, market guidance is not strong on the cost side, new influencing factors are still lacking on the demand side, and procurement enthusiasm in the middle and lower reaches is average. 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.