According to statistical data from Zhongyu Information, China's gasoline production in the period from January to March in 2018 was 34.34 million tons, while the total consumption was 30.82 million tons, and the excess supply amounted to 10.25%. It can be seen from the chart above, 2012 At the beginning of the year, China's gasoline production and apparent consumption both increased, but the overall situation was oversupply, and the situation of surplus was higher year after year.
In recent years, China's auto market has become increasingly prosperous, and the auto industry has developed rapidly. The increase in China’s auto ownership has led to an increase in demand for gasoline in the domestic market. According to statistical data from Zhongyu Information, China’s gasoline reserves have been increasing year after year since 2007. In 2017, the domestic automobile ownership amounted to 270 million units. It is estimated that the annual growth rate of domestic gasoline demand will maintain at about 9% in the next few years, and the domestic gasoline demand will increase to 208.1 million tons by 2022.
The main reason for the excess gasoline production is due to the rapid development of alternative fuels in recent years, and the diversification of domestic transportation alternatives. Gradually, a variety of energy development patterns focusing on natural gas, electric vehicles, methanol, biofuels, and coal-to-oil have gradually emerged. The promotion and use of new energy has greatly reduced the demand for the gasoline market. Increasing the export of gasoline in the future is also an effective way to alleviate the excess of domestic resources.
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