Domestic 93 # Gasoline Distribution Average Price Trend Chart
Average Distribution Price Trend Chart of 0# Diesel Oil in China
According to the price monitoring of business associations, the price of refined oil rose and fell in August. At the end of the month, the price of domestic gasoline was 6660 yuan/ton, up 2.24% from 6515 yuan/ton at the beginning of the month; at the end of the month, the price of domestic diesel oil was 6544 yuan/ton, down 1.00% from 6610 yuan/ton at the beginning of the month.
II. Analysis of Influencing Factors
Products: In August, the weather in the whole country was hot, and the demand of domestic refined oil market was good. Although the international crude oil showed a trend of fluctuation and rebound, the domestic gasoline and diesel market showed a good overall performance in August, and the refined oil market showed a trend of rising and falling.
Industry chain: Sino-US trade relations fluctuated in August, and global risky assets plunged. Despite the firm attitude of OPEC and other countries to reduce production and the boost of U.S. crude oil production and inventory, international oil prices showed a general trend of fluctuation and decline. The monthly decline of WTI international crude oil futures price was 4.78%.
On the market side: In August, the hot weather, increased demand for automotive oil, and the expected support of the Mid-Autumn Festival, coupled with the impact of typhoon weather in August, gasoline production is limited, so the overall performance of the gasoline market in August is good. In the aspect of diesel fuel, the main marketing performance in August was not satisfactory, and the terminal demand and speculative demand showed a weak state. In August, the international crude oil market did not perform well, and the diesel market as a whole did not perform as well as gasoline. This month, the diesel market fell slightly by 1.00%.
3. Future Market Forecast
Luxingjun, a product oil analyst at Business Association, believes that the bad news of Sino-US trade war is basically exhausted, and OPEC international will continue to support oil prices. With the support of the Mid-Autumn National Day in September, the demand for gasoline and diesel oil will not decrease, and the price of domestic product oil market is expected to rise in September.