The domestic oil price adjustment window opens on the 5th for No. 92 gasoline or returns to the “7 yuan era”
China News Service, December 5th, at 24:00 on December 5th, a new round of domestic refined oil price adjustment window will open. The agency predicts that the price of refined oil may fall for two consecutive days, ushering in the largest drop in the second half of the year. After this round of oil price adjustments, No. 92 gasoline may return to the “7 yuan era”.
Dai Tiandong, a refined oil analyst at Zhuo Chuang Information, said that during this period, the overall international oil price showed a trend of falling first and then rising, and the domestic reference crude oil change rate was in a negative range and then rose slightly. Therefore, the current round of refined oil retail price limit may face a “two consecutive declines”.
According to agency estimates, as of December 2, the ninth working day of this round of refined oil price adjustment cycle, the average price of reference crude oil varieties is 82.15 US dollars per barrel, with a change rate of -7.96%. 420 yuan, which is equivalent to a reduction of 0.31-0.35 yuan per liter for gasoline and diesel.
The previous price adjustments of domestic refined oil products in 2022. (Data source: National Development and Reform Commission)
Zhang Na, a refined oil analyst at Zhuo Chuang Information, analyzed that the market’s expectations for the production policy of the Organization of the Petroleum Exporting Countries and its partners (OPEC+) and the upper limit of oil prices in Eastern Europe will affect market sentiment, and the trend of crude oil price shocks will continue .
Jinlianchuang crude oil analyst Han Zhengji also believes that in the future market, crude oil prices may remain volatile. Uncertain factors such as whether the Organization of the Petroleum Exporting Countries and its partners (OPEC+) will cut crude oil production still exist. Affected by the recent rebound in crude oil prices, a new round of change rates may start positively, and the impact of negative news may decrease.