Gasoline: the wait-and-see mentality of the market still exists, and the buying and selling atmosphere is weak.

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230512	America	WTI	70.04	-0.83
20230512	The United Kingdom	Brent	74.17	-0.81

 

Gasoline price index

On May 15, China's gasoline price index fell 12.44, or 0.14%, to 8758.31, while China's gasoline price index fell 12.10, or 0.13%, to 9057.47. The 9-month gasoline index and the 9-month gasoline index were both downgraded, and the price difference between the 9-month gasoline index and the 9-month gasoline index was 299.16.

 

Gasoline market analysis:

The wholesale price of gasoline in China fluctuates slightly today. Among them, gasoline prices in North China increased by 50 yuan per ton, while those in East and Southwest China and Northeast China decreased by 30-100 yuan per ton. gasoline prices in South China, Central China, Northwest China and Northeast China remained relatively stable. The ex-factory prices of georefining are rising and falling, focusing on the reduction of gasoline prices in Shandong Province and Northwest China, with a range of 10-50 yuan per ton, while increases in North and Central China are concentrated in 20-50 yuan per ton. The price of gasoline in East China and Northeast China and the discarded gasoline price in Northwest China are temporary. At present, the turnover in China's gasoline market is moderate, and some traders are restocking at bargains at the weekend, but the support on the demand side is limited, coupled with the fact that the downward adjustment window is about to open, the enthusiasm of operators to enter the market is not high. The shipment of refinery noodles is general, the preferential room for transaction is still there, and the willingness to raise the price is mediocre. On the whole, the market wait-and-see mentality still exists, and the buying and selling atmosphere is weak.

 

May 15 main wholesale price of gasoline (yuan / ton)
Area	Gasoline model	Price 5.12	Price 5.15	Rise and fall
North China region	92#	8580-8950	8580-9000	0/50
	95#	8800-9250	8800-9300	0/50
South China	92#	8700-9100	8700-9100	0/0
	95#	8900-9400	8900-9400	0/0
Central China	92#	8600-9000	8600-9000	0/0
	95#	8750-9200	8750-9200	0/0
East China region	92#	8550-9000	8500-9000	-50/0
	95#	8750-9100	8700-9100	-50/0
Northwestern region	92#	8500-9650	8500-9650	0/0
	95#	8700-10450	8700-10450	0/0
Southwest China	92#	8750-9170	8700-9120	-50/-50
	95#	9000-9350	8900-9350	-100/0
Northeast China	92#	8580-8950	8550-8950	-30/0
	95#	8950-9400	8950-9400	0/0

 

The ex-factory price of gasoline refinery on May 15 (RMB / ton)
Area	Gasoline model	Price 5.12	Price 5.15	Rise and fall
Shandong area	92#	8130-8450	8090-8440	-40/-10
	95#	8230-8620	8190-8600	-40/-20
North China region	92#	8190-8200	8210-8240	20/40
	95#	8290-8300	8310-8340	20/40
Central China	92#	8400-8400	8450-8450	50/50
	95#	8600-8600	8650-8650	50/50
East China region	92#	8450-8350	8450-8350	0/0
	95#	8400-8500	8400-8500	0/0
Northwestern region	92#	8100-8400	8050-8400	-50/0
	95#	8200-8600	8200-8600	0/0
Northeast China	92#	8650-8650	8650-8650	0/0
	95#	8850-8850	8850-8850	0/0

 

Future forecast

From the perspective of international crude oil, the increase in US crude oil inventories last week, coupled with the unresolved issue of the US debt ceiling, market worries about economic recession, continuous decline in international crude oil prices, and negative guidance on international crude oil news. From the point of view of demand, the current weather and temperature is rising, the frequency of vehicle air conditioning is increased, there is no long holiday support, the private car travel radius is limited, and there are no obvious favorable factors on the demand side. On the supply side, imports make considerable profits, while some mainly operate imports in small quantities, while exports show upside-down profits. Under the dual influence, the supply of resources in China is relatively abundant. The price adjustment of refined oil products will be lowered tomorrow (24:00, May 16), and refineries will most likely follow the downward revision of their quotations. On the whole, it is expected that there is room for price reduction in China's gasoline market in the short term.

 

Maximum retail price list of gasoline and diesel in provinces, autonomous regions, cities and central cities

Since 24:00 on April 28, 2023, the prices of gasoline and diesel in China have been reduced by RMB160,155 per ton respectively. After the adjustment, the maximum retail prices of gasoline and diesel in all provinces (autonomous regions and municipalities) and central cities are shown in the attached table. The date of the price adjustment will be 24:00 on April 28th, 2023, which will be the ninth working day in China since the price adjustment was announced by the National Development and Reform Commission.

 

Schedule

Maximum retail price of gasoline and diesel in provinces, autonomous regions, cities and central cities

Unit: yuan / ton

	I. areas with one province and one price
	Gasoline (standard)	Diesel oil (standard)
Beijing	9655	8620
Tianjin	9620	8585
Hebei Province	9620	8585
Shanxi province	9690	8640
Liaoning province	9620	8585
Jilin Province	9620	8585
Heilongjiang province	9620	8585
Shanghai	9635	8590
Jiangsu Province	9675	8625
Zhejiang Province	9675	8640
Anhui province	9670	8635
Fujian Province	9695	8650
Jiangxi province	9675	8645
Shandong province	9630	8595
Hubei province	9645	8610
Hunan Province	9685	8670
Henan province	9640	8605
Hainan province	9765	8720
Chongqing	9835	8795
Guangdong province	9700	8655
Guangxi Zhuang Autonomous region	9765	8720
Ningxia Hui Autonomous region	9625	8585
Gansu province	9605	8605
Xinjiang Uygur Autonomous region	9400	8480
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	9635	8600
Chengdu city	9840	8820
Guiyang city	9800	8745
Kunming City	9830	8775
Xi'an city	9605	8595
Xining City	9585	8630

                                                                

Note: 1. The prices in the table include consumption tax, value-added tax, urban construction tax and additional education fees.

2. The prices of gasoline and diesel oil in the table are in line with the compulsory national standards of VIA and Ⅵ in the sixth stage.

3. The sixth stage standard of gasoline and diesel is gasoline and No. 0 vehicle diesel respectively.

4. The prices of gasoline and diesel oil that meet the quality standards of the sixth stage for the national reserve and the Xinjiang production and Construction Corps are 8890 yuan and 7855 yuan per ton respectively, and other relevant oil price policies shall be implemented in accordance with the provisions of the measures for Oil Price Management.