Gasoline Market Analysis on November 4

Gasoline Market Analysis on November 4

International crude oil closes

Gasoline price index

On November 4, China's 92 #gasoline price index was 7773.62, down 28.56, or 0.37%; China's 95 #gasoline price index was 8092.89, down 24.51, or 0.30%. 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 319.27.

Gasoline Market Analysis:

Today, the wholesale price of main gasoline units in China is generally stable and weak, with narrow adjustments in some regions. Among them, the low-end price of 92 #in Northeast China has been lowered by 15 yuan/ton, and the high-end price of 95 #has been lowered by 200 yuan/ton; the low-end price of 95 #in Southwest China has been increased by 20 yuan/ton; gasoline prices in other regions have been stable. The overall ex-factory price of local refining has been steadily reduced in a narrow range. The high-end price of 92 #in Shandong has been lowered by 104 yuan/ton; the low-end price of 92 #in Northeast China has been lowered by 100 yuan/ton; the high-end price of East China has been lowered by 15-20 yuan/ton, and the low-end price of 95 #has been increased by 20 yuan/ton; in North China, the price has been lowered by 20 yuan/ton; gasoline prices in other regions have been stable. Currently, the trading atmosphere in China's gasoline market is light.Cost end overnight crude oilweekendAfter closing, Iran announced that it would launch a new military response to Israel, but the specific date is uncertain. Overall, the support for the China gasoline market is still good. Terminal demand continues to be weak in the previous period, and in addition to entering the seasonal off-season, purchases in the middle and lower reaches remain cautious. The wait-and-see mood has eased slightly compared with the previous period, and refinery shipments are average.

market outlook

In terms of international crude oil, OPEC+ decided to postpone its December production increase plan. Coupled with the continued instability of the geographical situation, it is expected that there may still be room for increase in crude oil prices.In terms of gasoline in China, the demand side has not yet been boosted and its performance is still weak. At the beginning of the month, the pressure on sales tasks of various main units was temporarily relaxed, or there was a slight price increase. In addition, a new round of retail price limits for refined oil products may be expected to increase. On the whole, it is expected that China's gasoline market may stop falling again in the short term.