According to the wholesale prices of gasoline and diesel in China, last week (December 20-december 24), the average wholesale price of 92# gasoline in China was 7861 yuan / ton, down 199 yuan / ton from the previous week; The average wholesale price of diesel (including low freezing point) was 7483 yuan / ton, down 92 yuan / ton compared with the previous week, and the overall price level of gasoline and diesel fell month on month.
Chart: weekly average price trend of China’s gasoline and diesel wholesale price index (unit: yuan / ton)
Data source: China natural gas information terminal (E-Gas system)
In the next cycle, in terms of supply and demand, it is expected that the operating load of refineries in the industry will rise; Affected by the epidemic, the control in some areas has been upgraded, and residents travel cautiously. It is expected that the demand for gasoline will drop somewhat; South China’s infrastructure projects have been actively expedited, but the cold air across the country is coming, and strict environmental protection inspection has been carried out in some areas. The operating rate of oil consuming enterprises has decreased, and the overall demand for diesel is expected to decline. In terms of crude oil, Omicron virus has spread rapidly all over the world, and the impact of the epidemic on oil demand is still uncertain; In addition, according to the data of Baker Hughes oil service company, as of the week of December 24, the number of oil and gas drilling platforms in the United States increased to a new high since mid April 2020, and the oil supply is expected to increase. On the whole, the international oil price is expected to remain volatile. In terms of refined oil, the recent average price change rate of a package of crude oil has changed from negative to positive, which slightly supports the market. However, in view of the current rebound in the epidemic situation in some parts of China, the demand may be affected to some extent. On the whole, it is expected that the wholesale prices of gasoline and diesel in China will fall slightly in the next cycle, and the price changes or differences between regions will be large.
China’s gasoline and diesel wholesale prices are jointly released by China economic information service, Petrochina Company Limited(601857) economic and Technological Research Institute and Shanghai Petroleum and natural gas trading center. They are based on the wholesale price data collected and calculated from major business units and social business units (excluding refineries) throughout the country. They are authoritative products reflecting the overall situation of China’s gasoline and diesel wholesale market. At present, the data is mainly provided by Petrochina Company Limited(601857) economic and Technological Research Institute, and the data coverage will be further expanded in the future.
(Xinhua Finance)
