- Price Trend
According to the price monitoring of SunSirs, the price of gasoline and diesel oil had been running steadily last week. Domestic gasoline price was 7,180 RMB/ton, which is 0.75% higher than of previous week. Domestic diesel price is 6,717 RMB /ton, which is 0.77% lower than of previous week.
- Analysis of Influencing Factors
Products: The international crude oil rose sharply at the beginning of last week, which led to a sharp rise in the downstream product oil market. However, with the spread of good news, the price of the product oil market fell steadily.
Industry chain: Saudi Arabia's oil equipment was attacked in the previous week. After losing 5.7 million barrels per day of production, the market panicked up nearly 15%, but Saudi Arabia said that oil would return to production in a short time and international oil prices would rise and fall. International crude oil rose last week, with WTI crude oil rising 5.98%.
Market: Last week, the domestic refined oil market also soared and fell back. At 24:00 on September 18, the retail price limit of domestic refined oil experienced an increase. The rate of crude oil change in the new round of refined oil price adjustment cycle was still at a positive high, and the market bullish expectation still existed. On the demand side, the replenishment and reserve operation of Mid-Autumn Festival and National Day holidays has basically ended, the purchasing demand of downstream traders has weakened, and the price of refined oil has risen too much due to the sharp rise of crude oil in the earlier period, which has frustrated the trade sentiment of the industry. At the same time, during the National Day holiday, some outdoor construction projects are limited, domestic diesel demand is less than gasoline, and the overall product oil market is in a stable state.
- Market Forecast
SunSirs’ analyst believes that the decline in the international crude oil market will remain stable for a period of time, and the increase in the pre-market is too large. It is expected that the price of the product oil market will remain stable or slightly decline.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com .