Energy How are fuel prices in China being affected?

Global oil prices have fallen by 50% since early March, as demand has been affected by consumers remaining home, and OPEC announced it was not cutting supply.

24 Mar 2020
  • The highest price of #92 gasoline across all fuel retailers in Shandong Province is down 7% YoY.
  • Private fuel retailers have cut prices 13% YoY, more than Sinopec and CNPC (both -5%).
  • Prices were firmer earlier in 2020, when there was potential for supply chain constraints.

Gasoline #92 realized retail price in Shandong Province (Rmb/liter)

Source: UBS Evidence Lab