SunSirs: Gasoline and Diesel Prices in Shandong Refineries Rose Slightly on July 5
July 06 2022 09:14:23 SunSirs (John)
Price trend
On July 5, the price of gasoline and diesel in Shandong's refining rose slightly. The domestic 92# gasoline price was 9,105.4 RMB/ton, and the domestic 0# diesel price was 8,296.4 RMB/ton.
Analysis review
The prices of gasoline and diesel in the market did not change much, the start of refinery units rose slightly, the production and sales ratio was normal, and the price of refined oil rose slightly. The transaction price of 92# gasoline for National VI vehicles was 9,000-9,200 RMB/ton; the transaction price of 95# gasoline for National VI vehicles was 9,100-9,300 RMB/ton; the transaction price of 0# diesel for National VI vehicles was 8,200-8,400 RMB/ton. The demand for gasoline was acceptable. Affected by the high temperature in summer, the use of air-conditioning oil for private cars has increased, and the demand for gasoline has been guaranteed. The demand for diesel was normal, and the prices of gasoline and diesel rose slightly.
International crude oil futures prices rose. Coinciding with the U.S. Independence Day holiday, the U.S. market was closed for one day, and the settlement price of the main Brent crude oil futures contract was reported at 113.5 US dollars/barrel, an increase of 1.87 US dollars/barrel or 1.67%. The market continued to rise due to supply concerns, coupled with the combination of production cuts in Libya and the expectation of a strike in Norway, oil prices remained firm.
Market outlook
It is expected that the price of refined oil may rise slightly in the later period.
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