Recently, the price of domestic oil products has gradually dropped. The price of domestic 92 ᦇ gasoline is 7900.6 yuan / ton, and that of domestic 0 ᦇ diesel is 6144.6 yuan / ton. The main factor is the poor demand of the consumer side, and the price of upstream crude oil has fallen. Affected by this, the price of domestic oil products has declined.

Recently, the price trend of refined gasoline and diesel oil in Shandong Province has fallen down. At present, it is in the traditional off-season of consumption. Recently, the high temperature and rainy weather continue in many places. The infrastructure projects and logistics transportation in the downstream are generally under construction. The resource consumption of diesel terminal demand has decreased significantly. The sales of main companies are poor. The market shipment situation is poor. The price trend of diesel oil market has declined. There is a lack of favorable support for gasoline, and the car travel rate of the people keeps a stable trend. Under the bad influence of the lower crude oil price, the price of gasoline market is under pressure, the acceptance of the middle and lower reaches is not high, and the price of gasoline market has come down. Recently, the price of crude oil market has declined. In addition to the poor trading situation, the price trend of domestic oil products has declined.

Crude oil: international oil prices plummeted on the 19th, with the settlement price of the main contract in the US WTI crude oil futures market at US $66.35/barrel and the settlement price of the main contract in the Brent crude oil futures market at US $68.62/barrel. Crude oil prices rose slightly on the 20th. WTI and Brent crude oil both recorded the biggest decline in March, mainly because the OPEC + and OPEC + reached an agreement on increasing production, and the expectation of increased supply from oil producing countries was suppressed; As well as the resurgence of the epidemic and the surge of new crown infection cases in many countries, the market’s worry about the prospect of demand is heating up. The decline of crude oil market price has a negative impact on the domestic oil product market, and the domestic cost has a downward trend.

Supply and demand of refined oil: in the second quarter, some maintenance units of atmospheric and vacuum distillation unit were restarted, the refinery operation rate remained high, the supply side was normal, but the demand side declined. In terms of gasoline demand, the high temperature in some areas of China, coupled with the lack of holiday support, people travel less, the market demand for goods preparation and storage is poor, and the gasoline demand is general. In terms of diesel oil, the domestic demand for diesel oil in construction, logistics and transportation industries fell sharply due to rainy weather, and the terminal demand for diesel oil was poor. Bad demand, domestic oil prices fell.

Recently, the average operating load of atmospheric and vacuum distillation units in domestic main refineries is about 77%. In July, the operation of main refineries is stable with little change in supply.

Chen Ling, a refined oil analyst at the business community, said that the recent international crude oil prices had bad influence, and the policy of OPEC + oil producing countries finally fell to the ground. The oil minister of oil industry agreed last Sunday to increase oil supply from August. In addition, under the background of COVID-19′s severe trend, variety and spread speed, the international crude oil shock intensified. In addition, the price of domestic oil products is at a high stage, and downstream users have a certain resistance to high prices, and there may be a downward trend in the later stage.