Gasoline Market Analysis on October 29
International crude oil closes
Gasoline price index
On October 29, China's 92 #gasoline price index was 7800.70, down 18.57, or 0.24%; China's 95 #gasoline price index was 8115.64, down 16.83, or 0.21%. 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 314.94.
Gas and Oil Market Analysis:
Today, the wholesale prices of main gasoline units in China are generally stable and weak, and are mostly concentrated in low-end prices. Among them, low-end prices in South China, North China, and Northeast China have been lowered by 30 - 50 yuan/ton; Southwest China has been lowered by 30-50 yuan/ton; Low-end prices in Central China have been lowered by 50 yuan/ton, and 95 #high-end prices have been lowered by 50 yuan/ton; Gasoline prices in other regions have been stable. The overall ex-factory price of local refineries has been declining in a narrow range, with Shandong, East China, North China, Central China, and Southwest China lowering by 20-80 yuan/ton; the low-end price of 95 #in Northwest China lowering by 50 yuan/ton; the low-end price of 92 #in Northeast China Low-end price is lowered by 30 yuan/ton; gasoline prices in other regions are stable. At present, the trading atmosphere in China's gasoline market is light, and yesterday's recovery was fleeting, continuing the previous downward adjustment.On the cost side, overnight crude oil closed down significantly. Last weekend's conflict between Iran and Israel ended flat, which also means that the new round of conflict between Iran and Israel since the beginning of October has basically ended. Taken together, the negative guidance for China's gasoline market. Terminal demand continues to be weak in the previous period, with no positive factors improving. Downstream operators are generally enthusiastic about purchasing, a strong wait-and-see atmosphere, and refinery shipments have slowed down.
market outlook
In terms of international crude oil, the market is now back under pressure, geographical support has been weakened, and some operators are still doubtful about whether the Asian demand prospects can improve. It is expected that there will still be room for downward adjustment in crude oil prices.In terms of gasoline in China, the price of crude oil on the cost side closed down, but the demand side still lacked positive pull, and the market wait-and-see attitude remained unchanged. Near the end of the month, the pressure on sales tasks of various main units is gradually increasing, and the confidence to support prices may be insufficient. Price reductions are made to promote sales, and active shipment operations have increased. Overall, China's gasoline market is expected to decline in a narrow range in the short term.
