Price trend

On July 12, the price of gasoline and diesel in Shandong declined. The domestic 92# gasoline price was 8,916.6 RMB/ton, and the domestic 0# diesel price was 8,059.2 RMB/ton. Gasoline and diesel prices in the market declined, refinery units started to rise slightly, production and sales ratios were normal, and refined oil prices fell.

Analysis review

The transaction price of 92# gasoline for National VI vehicles was 8,800-9,000 RMB/ton; the transaction price of 95# gasoline for National VI vehicles was 8,900-9,100 RMB/ton; the transaction price of 0# diesel for National VI vehicles was 8,000-8,200 RMB/ton , the demand for gasoline was average. Although the travel radius of private cars has increased during the summer vacation, the spread of the epidemic in many places has suppressed demand. The overall demand for gasoline is lower than expected, and the trend of gasoline prices has fallen. In addition, high temperature and rainy weather continue to inhibit the operating rate of outdoor infrastructure, factories and mines, and the demand for diesel is not good, gasoline and diesel prices fell.

U.S. WTI crude oil futures fell slightly, with the settlement price of the main contract at US dollars104.09 US dollars/barrel, a decrease of 0.7 US dollars/barrel or 0.7%; Brent crude oil futures rose slightly, with the settlement price of the main contract at 107.10 US dollars/barrel, an increase of 0.08 US dollars/barrel or 0.1%

Market outlook

Due to the difficulty in easing supply tensions, oil prices have been supported, but the risk of future demand cooling is still there, and it is expected that the price of refined oil products may decline in the later period.

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