Gasoline Market Analysis on November 5

Gasoline Market Analysis on November 5

International crude oil closes

Gasoline price index

On November 5, China's 92 #gasoline price index was 7798.31, an increase of 24.70, or an increase of 0.32%; China's 95 #gasoline price index was 8118.73, an increase of 25.84, or an increase of 0.32%. Both the 92 #gasoline index and the 95 #gasoline index were raised, and the price difference between the 92 #gasoline index and the 95 #gasoline index was 320.41.

Gasoline Market Analysis:

Today, the wholesale prices of main gasoline units in China are generally stable and strong, and are mostly concentrated in low-end prices. Among them, low-end prices in South China, North China, Southwest and Central China have been increased by 20-80 yuan/ton; The low-end price of 95 #in Northeast China has been increased by 50 yuan/ton; gasoline prices in other regions have been stable. The overall ex-factory prices of local refineries have been steadily increased in a narrow range, with Shandong, East China, North China, and Central China increasing by 10-85 yuan/ton; low-end prices in northwest China increasing by 50 yuan/ton; gasoline prices in other regions stabilizing. Currently, the trading atmosphere in China's gasoline market is hot.Crude oil rose overnight on the cost side. OPEC+ officially decided to postpone the production increase plan originally scheduled for December by one month. Tensions between Palestine, Israel and Lebanon and Israel eased. Overall, the support for the gasoline market in China is still good. Terminal demand continues to be weak in the previous period, and has entered the seasonal off-season. Procurement in the middle and lower reaches remains mainly cautious. The wait-and-see mood has eased slightly compared with the previous period. The refinery shipment speed is still acceptable. At the beginning of the month, most of the main units mainly focus on promoting prices.

market outlook

In terms of international crude oil, OPEC+'s postponement of increased production and the recovery of local demand have brought positive impetus, but the global demand outlook is still under pressure. Coupled with the easing of the geopolitical situation in the Middle East, crude oil prices are expected to fluctuate within a narrow range.In terms of gasoline in China, the demand side still lacks positive impetus and continues to be weak. At the beginning of the month, the pressure on sales tasks of all main units eased, and they were confident in raising prices. 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 will mainly fluctuate within a narrow range in the short term.