SunSirs: Price Rise in the Refined Oil Market Last Week (9.2-9.9)

1. Price Data

According to the price monitoring of SunSirs, the price of gasoline and diesel oil rose last week. Domestic gasoline price was 6,703 RMB/ton, 0.99% higher than that of last week. Domestic diesel price was 6,540 RMB/ton, 1.09% higher than that of previous week.

2. Analysis of Influencing Factors

Products: Last week, international crude oil prices rebounded upward. At 24:00 on September 3, domestic gasoline and diesel prices increased 115 RMB/ton and 105 RMB/ton respectively. The market situation is good, and gasoline and diesel prices are steadily rising.

Industry Chain: The Sino-US trade war continues, and crude oil is blocked from going up under the overall situation. However, Russia has declared a strict cut in production, coupled with the deterioration of the situation in the United States and Iran, the market sentiment is growing. WTI crude oil futures have risen for four consecutive days, reaching $57 per barrel. Last week, WTI and Brent crude oil futures rose 2.18% and 0.86% respectively.

Market: The new round of reference crude oil rate of change is - 0.26%. In the main business, the pressure of the main task is low at the beginning of the month, and the willingness of all parties to reduce prices and promote sales is not strong, and the volume of refined products has changed from less to more. On the demand side, gasoline, such as MTBE and alkylated oil, have been on the rise all the way due to tight supply, and gasoline prices have been relatively strong; diesel, with the arrival of peak period, outdoor engineering, infrastructure, logistics, transportation and fishing industries have been active, and downstream customers' demand for replenishment has been strong as a whole.

3. Market Forecast

SunSirs’ analyst of refined oil believes that there are signs of an upward trend in the international crude oil market and the Mid-Autumn price supports demand. It is expected that the market price of refined oil will continue to rise.

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