1  Price Data

According to the price monitoring of SunSirs, prices of gasoline and diesel were basically stable last week. The domestic gasoline price was 6,126 RMB/ ton, down 2.37% from the previous week; the domestic diesel oil price was 5,843 RMB/ ton, down 0.39% from the previous week.

2  Analysis of Influencing Factors

Product: last week, the international crude oil operated at a low level, with a large fluctuation range. At present, it is estimated that the price adjustment of domestic refined oil on February 18 will be significantly reduced by 450 RMB/ ton, and the market demand for refined oil will be greatly reduced due to the impact of COVID-19.

Industrial chain: the international crude oil market was also affected by China's epidemic situation. China's crude oil demand was severely suppressed, and the demand growth was relatively limited. At the same time, Russia's attitude on deepening production reduction was not clear, and the crude oil market had doubts about the implementation of real production reduction. Last week, the international oil price was running at a low level, with a large fluctuation range.

Market: the sharp drop of international crude oil price suppresses the market price of refined oil. At the same time, in terms of gasoline demand, automobile travel was still limited, the market lacked substantial advantages, gasoline demand continued to be depressed, refinery inventory increased, and the overall performance of market transactions was still relatively weak. In terms of diesel, the crude oil news continued to be negative for the oil market. In addition, the domestic demand for industry, mining and transportation was limited, and the diesel market turnover was low, so refineries continued to reduce the price of diesel. Last week's oil product market price performance was low.

3  Market Forecast

The analyst of refined oil products of SunSirs believes that: the price of international crude oil market has fallen to a low level, and the market price of refined oil has fallen to a low level. With the resumption of work and the alleviation of the epidemic, the market demand for refined oil will gradually increase. It is expected that the market price of refined oil will rebound in the near future.

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