1、 Price data
According to the price monitoring of the business agency, this week’s gasoline and diesel prices fell first and then stabilized, with a slight decline. The domestic gasoline price was 4816 yuan / ton, 3.44% lower than last week’s gasoline price; the domestic diesel price was 5129 yuan / ton, 1.49% lower than last week’s diesel price.
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2、 Analysis of influencing factors
Product: crude oil futures fell sharply this week, the operating rate of domestic refining and chemical equipment remained at a high level, the market demand for refined oil was not good to stimulate, and the market price of refined oil fell slightly this week.
Industry chain: WTI futures delivery dropped international oil prices, crude oil prices fell, the “US Iraq” relationship between China and the United States was once again strained, geopolitical risk factors increased the premium space of crude oil; at the same time, OPEC + and other oil producing countries gradually put production reduction on the agenda, active production reduction superimposed by movable production reduction brought certain boost to the market. International oil prices fall first and then rise.
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Market: on the demand side, there is a lack of good news support for gasoline this week. The downstream gas stations mostly replenish the storage as needed, and the main outsourcing orders are released, but the support is limited. In terms of diesel, engineering, infrastructure, logistics and transportation still have a strong support for the diesel market. The inventory of downstream customers is not high, and market transactions are still dominated by bargain hunting. Affected by the epidemic this year, travel during the May Day holiday has limited boost to the oil product market demand. This week, the price of domestic refined oil market fell first and then stabilized, with a slight decline overall.
3、 Future forecast
Lu Xingjun, an oil product analyst with business club, believes that: the international crude oil demand is weak, the market price is still under pressure, and there is no bright spot in the domestic oil product demand, so it is expected that the domestic oil product market will be weak and stable.
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