Gasoline Market Analysis on October 30

Gasoline Market Analysis on October 30

International crude oil closes

Gasoline price index

On October 30, China's 92 #gasoline price index was 7789.07, down 11.63, or 0.15%; China's 95 #gasoline price index was 8104.08, down 11.56, or 0.14%. 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 315.02.

Gasoline 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 East China, North China, and Southwest China have been lowered by 50-70 yuan/ton; The low-end price of 92 #in Central China has been lowered by 50 yuan/ton; gasoline prices in other regions have been stable. The overall ex-factory price of local refineries has been lowered in a stable and narrow range. The price of 92 #in Shandong has been increased by 17-59 yuan/ton, and the low-end price of 95 #has been increased by 20 yuan/ton; the low-end price of northwest and east China has been lowered by 30-50 yuan/ton; North China and Southwest China have been lowered by 20-30 yuan/ton; gasoline prices in other regions have been stable. At present, the trading atmosphere in China's gasoline market is light, and the previous downward adjustment continues.On the cost side, crude oil closed down significantly overnight, the conflict between Iran and Israel came to an end, the Palestinian-Israeli peace talks advanced, and the Lebanon-Israeli peace talks also had preliminary intentions. The geographical impact is gradually weakening. Overall, the negative guidance for China's gasoline market is negative. Terminal demand has continued to be weak in the previous period, and no new positive factors have emerged yet. Procurement is mainly needed in the middle and lower reaches, and the wait-and-see atmosphere is strong, and refinery shipments have slowed down.

market outlook

In terms of international crude oil, ETA data will be released today, together with the third quarter GDP data of the United States, will also be released. At present, there are certain signs of improvement, and crude oil prices are expected to still have room for upward adjustment.In terms of gasoline in China, the price of crude oil on the cost side closed down, and the output on the supply side dropped slightly. However, the demand side still lacked positive impetus, and most industry operators remained bearish and wait-and-see. At the end of the month, the pressure on sales tasks of each main unit gradually increased, and the confidence to support prices may be insufficient. Price reductions were made to promote sales, and active shipment operations increased. Overall, China's gasoline market is expected to decline in a narrow range in the short term.