June 12 Gasoline Market Analysis

International crude oil closes

Gasoline price index

On June 12, China's 92 #gasoline price index was 9002.63, an increase of 3.28, or 0.04%; China's 95 #gasoline price index was 9293.18, an increase of 4.09, or 0.04%. 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 290.26.

Gasoline Market Analysis:

Today, China's gasoline market is stable, medium and strong, and concentrated on low-end prices. Among them, the low-end price in North China has been increased by 50 yuan/ton; the low-end price of 92 #in Northeast China has been lowered by 15 yuan/ton; and the low-end price of 92 #in Central China has been increased by 10 yuan/ton; gasoline prices in other regions are stable. The ex-factory price of local refineries is stable and strong, with an increase of 10-20 yuan/ton in East China and Central China; the low-end price of 95 #in Northwest China is increased by 50 yuan/ton; the price of 92 #in North China is increased by 10-60 yuan/ton, and the price of 95 #high-end price is increased by 20 yuan/ton; gasoline prices in other regions are stable. At present, transactions in China's gasoline market are still good, international crude oil has closed up continuously, cost support has been strengthened, procurement enthusiasm in the middle and lower reaches is still good, and refinery shipments are still good.

market outlook

Israeli officials said Hamas's revision of the ceasefire proposal meant rejecting the proposal, and there was still no substantive progress in the Palestinian-Israeli ceasefire negotiations. The OPEC monthly report maintains its forecast for global crude oil demand growth in 2024 at 2.25 million barrels per day, and expects global crude oil demand growth to average 2.3 million barrels per day in the second half of the year. International crude oil closed up continuously, recovering from its previous decline, and positive factors strengthened. In China's gasoline market, downstream replenishment has basically ended, and a new round of price limits is expected to be lowered. In addition, in mid-month, sales pressure on various main units has gradually increased. On the whole, the negative and good are intertwined, and China's gasoline market is expected to fluctuate within a narrow range in the short term.