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SunSirs: Gasoline and Diesel Prices in Shandong Refineries Fell Slightly on July 26
July 27 2022 11:11:01SunSirs(John)

Price trend

On July 26, the price of gasoline and diesel in Shandong's refining fell slightly. The domestic price of 92# gasoline was 8394.8 RMB/ton, and the domestic 0# diesel price was 7628 RMB/ton.

Analysis review

The prices of gasoline and diesel in the market fell slightly. The start of construction did not change much, the production and sales ratio was normal, and the price of refined oil declined. The transaction price of 92# gasoline for National VI vehicles was 8,300-8,500 RMB/ton; the transaction price of 95# gasoline for National VI vehicles was 8,400-8,600 RMB/ton; the transaction price of 0# diesel for National VI vehicles was 7,500-7,700 RMB/ton. Gasoline demand was average. The demand for gasoline is average. Although the travel radius of private cars increased during the summer vacation, the spread of the epidemic restrained the demand. The overall demand for gasoline was lower than expected, and the price of gasoline dropped slightly. In addition, high temperature and rainy weather continued to suppress the operating rate of outdoor infrastructure, factories and mines, the demand for diesel was poor. Gasoline and diesel prices fell slightly.

The settlement price of the main U.S. WTI crude oil futures contract was US dollars96.70 US dollars per barrel, an increase of 2.0 US dollars or 2.1%; the settlement price of the main contract of Brent crude oil futures was 100.19 US dollars per barrel, an increase of 1.81 US dollars or 1.8%. Oil prices were still in a stalemate between long and short positions, and the market was still worried about the Fed's aggressive interest rate hikes; however, oil prices were supported by concerns about tightening supply and a weaker dollar.

Market outlook

Affected by the support of crude oil prices, it is expected that the price of refined oil products may remain stable in the later period.

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