Refined Oil Wholesale and Retail Price Spread Increased
According to SCI, up to May 9, the average wholesale price of 92Ron gasoline at state-owned refineries was RMB 7,242/mt, and the price spread between gasoline wholesale price and retail price was RMB 2,212/mt, up RMB 147/mt from that in late April. The average wholesale price of 0# diesel at state-owned refineries was RMB 6,672/mt, and the price spread between diesel wholesale price and retail price was RMB 1,248/mt, up RMB 96/mt from that in late April. The theoretical profits of selling refined oil products at Shandong independent refineries increased significantly. Up to May 9, the average wholesale price of 92Ron gasoline at Shandong independent refineries was RMB 6,595/mt, and the price spread between gasoline wholesale price and retail price was RMB 2,813/mt, up RMB 20/mt from that in late April. The average wholesale price of 0# diesel at Shandong independent refineries was RMB 6,299/mt, and the price spread between diesel wholesale price and retail price was RMB 1,571/mt, down RMB 75/mt from that in late April.
The future international crude oil prices may keep fluctuating, giving limited support to China’s refined oil market. Moreover, southern China enters the rainy season, and the outdoor constructions are seriously affected. Therefore, the demand for diesel is likely to decrease. SCI reckons that China’s refined oil market may remain tepid, and the participants will purchase on a need-to-basis. Moreover, in May, the sales of refined oil are limited. Therefore, the wholesale prices of refined oil will be stable-to-decreasing, and the price spread between refined oil wholesale price and retail price may increase further.
……
More detailed information, please click "Read more".
For more information please contact us at
overseas.sales@sci99.com
overseas.info@sci99.com
+86-533-6090596
