The national weather is getting hotter, the use of automobile oil is increasing, and the demand for gasoline is increasing market price. According to the price monitoring data of the business agency, the domestic gasoline price this week was 4893 yuan / ton, 4.89% higher than that of last week. In contrast, the demand side of diesel price lacks upward space. According to the price monitoring data of business agency, the domestic diesel price is 4932 yuan / ton, a slight drop of 0.37% compared with last week’s diesel price.

In summer, the support for gasoline consumption is more obvious, with the increase of main outsourcing and downstream replenishment. In addition, under the influence of the buying atmosphere, the operation of traders’ hoarding has also increased, and the overall demand for gasoline is improving. At the same time, gasoline exports increased, easing the supply pressure of the gasoline market. According to the data of the General Administration of customs, in April 2020, China’s gasoline export volume was 1.9 million tons, up 4.4% month on month and 62.39% year on year.

In contrast, the rising temperature in summer and limited outdoor operation limit the demand of diesel market, but the rigid demand industry still has strong support for the market. In addition, the decrease of diesel export affects the rise of diesel price. According to the data of the General Administration of customs, in April 2020, China’s diesel export volume was 2.57 million tons, down 9.19% month on month, down 1.1% year on year.

Recently, the international crude oil price is short of news and guidance. This week, the WTI crude oil price fluctuated between us $33-34.5 / barrel, with a weekly drop of only 0.62%, which has little effect on the market guidance.

3、 Future forecast

Lu Xingjun, an oil product analyst with business club, believes that: at present, the crude oil market has entered into a short-term volatile market and failed to break the “floor price” of domestic oil products of $40 / barrel. There will be cooling weather in the north and south of the country starting next week, which is not conducive to the consumption of oil products. It is expected that the domestic oil product market will be stable and moderate.