Domestic refined oil prices ushered in the first “three consecutive declines” this year.
On July 26, the website of the National Development and Reform Commission announced that according to the recent changes in oil prices in the international market and the current refined oil price formation mechanism, from 24:00 on July 26, 2022, domestic gasoline and diesel prices (standard products, the same below) Reduced by 300 yuan and 290 yuan per ton, respectively. The relevant price linkage and subsidy policies are implemented in accordance with the current regulations.
The “Daily Economic News” reporter noticed that this round of domestic refined oil price adjustment is the fourteenth price adjustment in 2022. After this price adjustment, the oil price adjustment will show a pattern of “ten rises and four falls” during the year.
Car owners will spend about 12 yuan less when filling up a tank of fuel
Since the end of June this year, domestic refined oil prices have continued to decline. The last time there was a “three consecutive declines” in oil prices dates back to the fourth quarter of last year.
Regarding the reasons for the recent continuous decline in domestic refined oil prices,Liu Wenjie, Analyst of Longzhong InformationThrough WeChat, he told the “Daily Economic News” reporter that during this round of pricing cycle, international oil prices continued to be under pressure. Although U.S. President Biden’s trip to the Middle East had little effect, Saudi Arabia did not make a clear statement on the increase in production, and concerns about tight supply still exist, the European Central Bank raised interest rates for the first time since 2011, exacerbating the market’s worries about economic recession, and crude oil prices continued to be weak.
New York market NYMEX crude oil price trend
Crude oil prices in the international market have been mainly down recently
On the whole, the average price of the anchored oil species moved down during the pricing cycle, and the corresponding comprehensive rate of change of crude oil moved in a negative range, thus opening the window for this round of retail price reduction.
For the impact of falling oil prices on the majority of car owners,Longzhong Information Analyst Xu WenwenHe told the “Daily Economic News” reporter through WeChat that the price of gasoline was reduced by 300 yuan per ton and diesel by 290 yuan, equivalent to about 0.22 yuan per liter of 89# gasoline, 0.24 yuan for 92# gasoline, 0.25 yuan for 95# gasoline, 0 #diesel 0.25 yuan.
Calculated based on an ordinary private car with a fuel tank capacity of 50L, after this price adjustment, car owners will spend about 12 yuan less to fill up a tank of fuel; according to the model with a fuel consumption of 7L-8L per 100 kilometers in the urban area, the average cost per 100 kilometers will be reduced. 2 yuan or so.
For a large-scale logistics transport vehicle with a full load of 50 tons, the fuel cost is reduced by about 10 yuan for every 100 kilometers traveled on average. This price adjustment will reduce costs for private car owners and logistics companies.
After this round of price adjustment, the price of diesel and diesel in most parts of the country is about 8.3-8.5 yuan/liter, and the retail price of 92# gasoline is limited to 8.3-8.5 yuan/liter.
Oil prices may remain weak in the short term
The reporter of “Daily Economic News” noticed that in the relevant notice, the National Development and Reform Commission also emphasized that the three major companies of PetroChina, Sinopec, CNOOC and other crude oil processing enterprises should organize the production and transportation of refined oil to ensure stable supply in the market, and strictly implement the national price policy. Relevant departments in various places should increase market supervision and inspection, strictly investigate and punish behaviors that do not implement the national price policy, and maintain normal market order. Consumers can report price violations through the 12315 platform.
For the oil price trend in the next cycle,Longzhong Information Analyst Li YanAccording to the reporter of “Daily Economic News” through WeChat, based on the current international crude oil price level, the next round of refined oil price adjustment will show a slight upward trend at the beginning. From the current point of view, a new round of interest rate hikes by the Federal Reserve this month may once again put pressure on the global economy and demand, but the geopolitical and supply-side positives still exist, and the negatives are good for space for gaming. It is expected that the next round of refined oil price adjustments will be stranded. larger.
In view of the recent trend in oil prices,National Development and Reform Commission Price Monitoring CenterIt is expected that oil prices may still run weakly in the short term. On the demand side, consumption weakness caused by high oil prices will continue. On the supply side, the United States and Europe allowed traders to buy Russian seaborne crude oil and sell it to third parties, and Libya’s crude oil production partially resumed, helping to ease supply tensions.
Source of cover image: Xinhua News Agency
