The reporter obtained information from a recent market survey conducted by Sinopec, which revealed that sales of premium gasoline grades—such as No. 93, No. 97, and No. 98—have gradually surpassed those of No. 90 gasoline in Guangdong since last September. These high-grade fuels have now become the dominant choice in retail gasoline sales. Once accounting for over 50% of total sales, No. 90 gasoline has dropped to just 34% of the market share, while premium gasoline now holds 66%.
Yao Daming, head of the oil and gas division at the Guangdong Oil and Gas Merchants Association, expressed some disagreement with this trend. He explained that the two major state-owned oil companies are planning to phase out the production of No. 90 gasoline gradually. Since last year, the supply of No. 90 has significantly decreased. However, he emphasized that it's not that the market has "discarded" it—it's more about a strategic shift. Sinopec officials, on the other hand, stated that reducing production is part of a broader industry trend and is considered normal.
**Rising Demand for Premium Gasoline**
According to a recent market survey by Maoming Petrochemical, one of Guangdong’s largest refineries, urban households in the province now own an average of 9.3 cars per 100 households—a 35% increase compared to the same period last year. Meanwhile, per capita fuel expenditure has risen by 40%. In the Pearl River Delta region, 100 households in towns own approximately 20 cars. The growing popularity of personal vehicles has led to increased demand for gasoline above No. 93. Additionally, stricter emissions regulations and enhanced vehicle inspection policies have further boosted the need for cleaner, higher-quality gasoline. The survey also found that higher-end vehicles tend to require better fuel quality.
Notably, there is no “upside-down†pricing phenomenon for No. 90 gasoline. According to experts from the Guangdong Oil and Gas Merchants Association, even with current high international oil prices, No. 90 gasoline still generates profit when sold domestically. Despite this, its supply continues to be reduced, indicating that the major oil companies are indeed actively controlling the production of low-grade gasoline.
**Consumers Prefer 90 Gasoline for Its Affordability**
In reality, the two major Chinese oil companies have been pushing to eliminate low-grade gasoline in recent years. A recent survey by the reporter at gas stations in Guangzhou showed that No. 90 gasoline is supplied relatively infrequently. Major stations operated by Sinopec, PetroChina, and BP have confirmed that overall gasoline supply remains stable, but the availability of lower-grade options is inconsistent. For example, a foreign oil station on Guangzhou Avenue previously offered No. 90 gasoline, but its supply has been significantly reduced since the second half of last year.
On the consumer side, many do not fully agree with the oil companies’ approach. When interviewed, several car owners said that unless they drive high-end vehicles, they still find No. 90 gasoline to be more affordable and sufficient for their needs. This suggests that while the industry is shifting toward premium fuels, many drivers continue to value the cost-effectiveness of No. 90.
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