Gasoline Market Analysis on September 18

International crude oil closes

Gasoline price index

On September 18, China's 92 #gasoline price index was 8333.91, down 19.95, or 0.24%; China's 95 #gasoline price index was 8626.58, down 16.01, or 0.19%. 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 292.66.

Gasoline Market Analysis:

Today, China's gasoline market is operating steadily and weakly, and is concentrated on low-end prices. Among them, low-end prices in North China, Northwest China, and Northeast China have been lowered by 50-200 yuan/ton; low-end prices in Central China have been increased by 20 yuan/ton; gasoline prices in other regions are stable. The ex-factory price of local refining has been steadily lowered, with 92 #in Shandong increasing by 77-100 yuan/ton; the northwest region, east China and southwest region lowering by 40-200 yuan/ton; the high-end price of 92 #in Northeast region lowering by 100 yuan/ton, and the price of 95 #lowering by 100 yuan/ton; the high-end price of 92 #in North China is lowered by 40 yuan/ton, and the price of 95 #is lowered by 40-90 yuan/ton; the price of gasoline in Central China is increased by 20 yuan/ton; gasoline prices in other regions are operating stably. At present, the buying and selling atmosphere in China's gasoline market continues to be light, with middle and lower reaches of the market being cautious, and refinery shipments at an average speed.

market outlook

The Federal Reserve is about to cut interest rates in September, and the market expects a 50 basis point rate cut. More than 6% of crude oil production in the U.S. Gulf of Mexico has been suspended due to the impact of Storm Francine and has not yet fully recovered.In terms of China's gasoline, crude oil stopped falling and rebounded.However, due to limited positive market support, the terminal wait-and-see atmosphere still exists.Purchasing enthusiasm is average. During the Mid-Autumn Festival holiday, the overall market demand fell short of expectations, refinery shipments performed generally, and the middle and lower reaches were mostly satisfied with the demand for purchases. The centralized replenishment operation after the holiday was not obvious. In addition, the new round of retail price limits for refined oil products was about to be lowered. Entering the second half of the month, the pressure on sales tasks of each main unit is gradually increasing, and the confidence to support prices is not strong. On the whole, China's gasoline market is expected to fluctuate within a narrow range in the short term.