Gasoline Market Analysis on October 23

Gasoline Market Analysis on October 23

International crude oil closes

Gasoline price index

On October 23, China's 92 #gasoline price index was 7817.84, down 7.20, or 0.09%; China's 95 #gasoline price index was 813.83, down 1.46, or 0.02%. 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 312.99.

Gasoline Market Analysis:

Today, the wholesale price of main gasoline units in China has been increased in a stable and narrow range overall, and is concentrated in low-end prices. Among them, 92 #in South China has been increased by 30-50 yuan/ton, and 95 #high-end prices have been increased by 50 yuan/ton; Low-end prices in Southeast and Southwest regions have been increased by 25-80 yuan/ton; low-end prices in Central China have been increased by 20-30 yuan/ton, and low-end prices in 92 #have been increased by 30 yuan/ton; Gasoline prices in other regions have been stable. The overall ex-factory price of local refining has been stable and rising. In Shandong, the price of 92 #has been raised by 20-43 yuan/ton, the price of 95 #has been lowered by 10 yuan/ton, and the price of 95 #has been raised by 20 yuan/ton; the price of low-end in North China has been raised by 10 yuan/ton; the price of gasoline in other regions has been lowered by 150 yuan/ton; gasoline prices have been stable. At present, the trading atmosphere in China's gasoline market is still good. Although the average prices of 92 #and 95 #have dropped slightly, they have improved compared with the previous period.Overnight crude oil on the cost side closed upward for two consecutive days. The unstable situation in the Middle East still exists. Some oil-producing countries such as Iraq will make compensatory production cuts. Overall, the support of China's gasoline market is still good. Terminal demand continues to be poor and has no positive pull. Downstream operators are sluggish in purchasing enthusiasm, the wait-and-see atmosphere has not eased, and refinery shipments are average.

market outlook

In terms of international crude oil, the impact of geopolitical factors has eased, and crude oil prices are expected to be difficult to rise despite the weak overall market demand.In terms of gasoline in China, the price of crude oil on the cost side closed up, but there is still a lack of new influencing factors on the demand side, no significant improvement has been made, and the enthusiasm for purchasing in the middle and lower reaches has not improved much. In late August, the pressure on sales tasks of various main units gradually increased, and the willingness to bid may be insufficient. Price reductions were promoted, and active shipment operations increased. On the whole, it is expected that China's gasoline market will mainly fluctuate within a narrow range in the short term.