Price data

According to the price monitoring of business associations, the market price of refined oil rose sharply in July. Domestic gasoline price was 6453 yuan/ton at the end of the month, up 7.52% from 6107 yuan/ton at the beginning of the month. Domestic diesel price was 6582 yuan/ton at the end of the month, down 7.77% from 6002 yuan/ton at the beginning of the month.

II. Analysis of Influencing Factors

Products: The domestic gasoline and diesel market rose sharply in July when the whole country entered the hot summer and the demand of domestic refined oil market improved markedly. In addition, the international crude oil showed a trend of oscillation and warming, and the third batch of refined oil export quota was lowered.

Industry chain: In July, tense U.S. -Iraq relations, the Gulf of Mexico storm, worries about oversupply and other air news intertwined. The international crude oil market rises first, then falls and then rises, showing a general trend of shock and warming, supporting the trading mentality of the gasoline and diesel industry.

On the market side: Firstly, in the hot summer season, the use of oil for automobile air conditioning increased in summer, the use of oil for industrial, mining, infrastructure and other outdoor projects increased greatly in the northern region, and the market demand improved; secondly, the news of refinery equipment overhaul and product oil reduction came frequently, and the third batch of product oil export quota was lowered to alleviate the situation of domestic oversupply; Finally, the main unit gradually substantial pallet market, refined oil prices continue to climb, leading to the rise of domestic refined oil prices.

3. Future Market Forecast

Lu Xingjun, an analyst of refined oil products from business associations, believes that the international crude oil market is heading for a better position and that the demand for refined oil in August will not decrease. It is expected that the price of domestic refined oil market will continue to rise in August.