Spring Festival holiday in Shandong province to refining gas, diesel prices rose significantly

2022-07-27 0 By

During the Spring Festival, the price of gasoline and diesel oil in Shandong province rose significantly. Compared with before the festival, the average increase of gasoline was 562 yuan/ton, and the average increase of diesel oil was 344 yuan/ton.According to zhuochuang Information, as of February 6, 2022, shandong Dilian 92# gasoline average price of 9009 yuan/ton, compared with January 30 increased by 562 yuan/ton, or 6.65%;The average price of 0#/-10# diesel was 7323 yuan/ton, up 344 yuan/ton or 4.94% compared with January 30.There are three reasons for the increase. First, in terms of crude oil, the international crude oil price mainly rose during the Spring Festival. The main reasons are as follows: First, the Ukraine crisis continues to fervour, and there is a geopolitical risk premium;Second, the United States cold weather, the market worries about the United States crude oil production.Meanwhile, instead of increasing production, the production cut meeting that the market focused on has maintained an agreement to increase production by a modest 400,000 b/d.As a result, U.S. crude rose $5.49 / BBL, or 6.32%, and Brent rose $3.24 / BBL, or 3.6%, during the Holiday.The strong rise of crude oil in Shandong province, the formation of a strong upward guidance of the diesel market, laid the foundation for the rise in the price of diesel oil.Secondly, on the supply side, before the Spring Festival, due to the Winter Olympics and the Spring Festival holiday, many refineries in Shandong stopped work for maintenance or reduced load.According to zhuochuang information statistics, as of January 26, the average starting load of the primary atmospheric and vacuum device in Shandong Province was 60.65%, down 2.69 percentage points from the previous month, down 12.03 percentage points year-on-year.The supply of gasoline, diesel and other products is obviously reduced, and refinery inventory pressure is generally not large (as of January 27, shandong local refinery gasoline inventory accounted for 14.97%, local refinery diesel inventory accounted for 15.46%, both at a low level), the willingness to push up and the confidence is relatively strong.Thirdly, on the demand side, spurred by the strong rise in crude oil, refineries began to push up prices on the second day of the New Year, with an average daily range of 100-200 yuan/ton.Affected by the atmosphere of rising prices, beginning on the third day of the New Year, part of the terminal downstream operators who have not replenishment before the festival began to enter the market to purchase.Affected by the downstream replenishment demand release, the Spring Festival holiday in Shandong refinery gasoline and diesel market transaction performance is active, further boost the refinery gasoline and diesel prices.In the afternoon, first of all, oil prices, Zhuochuang information is expected to continue to support the Ukraine crisis, and the United States of the extremely cold weather caused market concerns about production damage, the short-term crude oil market can not see negative factors, oil prices are still strong.On the domestic side, after the price of local refinery gasoline and diesel rose to a high level, it suppressed the downstream purchasing sentiment. Today, some refineries began to adjust diesel oil down operation, stimulating the downstream replenishment, the range is 30-60 yuan/ton.At present, the downstream gasoline consumption is better, just need to support, it is expected that in the short term, the price of gasoline in Shandong province is still relatively strong operation, high holding more stable;The downstream demand for diesel is poor, and the price of refined diesel is expected to fall further, with a range of 100-200 yuan/ton or so, waiting for the downstream to concentrate on the market again.Zhuochuang Information — commodity price monitoring unit of National Development and Reform Commission and big data partner of National Bureau of Statistics, visit zhuochuang information official website to check more 13 categories of commodity data and information + semi-annual report analysis articles, media cooperation interview please leave a message at the end of the article or private letter.(Disclaimer: The data and information provided by ZC are for reference only and shall not be reproduced without permission.Any direct or indirect losses and legal consequences caused by any investment, sale, operation or other behavior based on zhuochuang Information data and information shall be borne by zhuochuang information itself and shall have nothing to do with it.)