Gasoline Market Analysis on November 6

Gasoline Market Analysis on November 6

International crude oil closes

Gasoline price index

On November 6, China's 92 #gasoline price index was 7825.66, an increase of 27.35, or an increase of 0.35%; China's 95 #gasoline price index was 8145.30, an increase of 26.57, or an increase of 0.33%. 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 319.64.

Gasoline Market Analysis:

Today, the wholesale price of main gasoline units in China is generally stable and strong. Among them, East China and South China have increased by 20-120 yuan/ton; the low-end price in North China has been lowered by 30 yuan/ton; the low-end price of 95 #in Southwest China has been lowered by 70 yuan/ton; the low-end price in Central China has been increased by 20 yuan/ton; gasoline prices in other regions have been stable. The overall ex-factory prices of local refineries are stable, medium and strong, with the low-end price of 92 #in Shandong increased by 50 yuan/ton; the low-end price of 95 #in northwest region increased by 50 yuan/ton; the price of gasoline in other regions increased by 70 yuan/ton; and stable. Currently, the trading atmosphere in China's gasoline market is hot.Crude oil rose overnight on the cost side. OPEC+ has postponed the production increase plan originally scheduled for December and will be implemented from 2025. The U.S. presidential election voted and Trump basically locked in victory. Overall, the support for the gasoline market in China is still good. Terminal demand continued to be weak in the previous period, procurement enthusiasm in the middle and lower reaches was acceptable, the overall market trading atmosphere was good, and refinery shipments were acceptable. At the beginning of the month, most of the main units were mainly high-priced and Poly.

market outlook

In terms of international crude oil, Trump has basically locked in victory. His ruling strategy has a negative impact on oil prices. In addition, the growth trend of U.S. commercial crude oil inventories may also bring certain negative pressure, and crude oil prices are expected to fall.In terms of gasoline in China, the demand side still lacks positive factors to improve. At the beginning of the month, all main units were confident in raising prices, and 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.