Gasoline Market Analysis on November 26
International crude oil closes
Gasoline price index
On November 26, China's 92 #gasoline price index was 7935.63, an increase of 8.16 from yesterday, or an increase of 0.10%; China's 95 #gasoline price index was 8245.54, an increase of 8.15 from yesterday, or an increase of 0.10%. 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 309.91.
Gasoline Market Analysis:
Today, China's main gasoline wholesale operations are stable and weak. The low-end price of 92 #in Southwest China and the price in Central China has been lowered to 20-30 yuan/ton; quotations in other regions are stable. The ex-factory prices of local refineries have been lowered steadily and within a narrow range. Among them, the reduction range is concentrated at 34-50 yuan/ton in Shandong, East China, and North China; the increase in Southwest China is 100 yuan/ton; and gasoline prices in other regions are stable. At present, the transaction atmosphere in China's gasoline market is moderate. Prices in some regions stopped rising and stabilized today. International oil prices on the cost side closed down, giving weak support for China's gasoline market.Recently, the supply of most main refineries has stabilized, and their willingness to support prices has increased, but transaction volume has declined.The terminal's performance is average just now, and the mentality of on-site operators to replenish goods in the market continues to improve.The bullish mentality gradually occupied the majority. Some local refineries are involved in unit maintenance, and supply resources may be squeezed.
market outlook
In terms of international crude oil, OPEC+ may postpone production cuts again until the end of February next year. Israel and Lebanon are expected to reach a ceasefire agreement as soon as possible within a week. The Russia-Ukraine conflict is still intensifying. With the entanglement of factors affecting the situation,China's gasoline market guidance is short。China's market is affected by the cost side, coupled with the decline in terminal demand performance, traders are gradually taking a wait-and-see attitude.Refinery supplies sufficient resources。Overall, it is expected that China's gasoline market may decline slightly in the short term.
