Oil prices will be lowered for the fourth time in the year, and a full tank of oil may be 12.5 yuan cheaper to go out on National Day
Sino-Singapore Jingwei Client, September 18 (Yao Rufei) Today (18th) at 24:00, a new round of price adjustment window for domestic refined oil products will open.
Many agencies predict that this round of refined oil products will likely be lowered.
Photo by Sino-Singapore Jingwei Gas Station
According to Reuters' Chinese website, recently, due to the impact of Hurricane Sally, more than a quarter of offshore crude oil production platforms and some large refineries in the Gulf of Mexico in the United States have been closed. As a result, oil supply has been restricted and international oil prices have risen strongly.
According to the monthly report released by the International Energy Agency (IEA), global crude oil supply increased by 1.1 million barrels per day in August to 91.7 million barrels per day, but it was down by 9.3 million barrels per day from a year ago.
Due to the closure of factories by Hurricane Laura in August, US production in August fell by 400,000 barrels per day.
On the news, the IEA lowered its oil demand estimates for the third and fourth quarters of 2020 by 100,000 barrels per day and 600,000 barrels per day respectively.
The IEA predicts that the total supply of non-OPEC in 2020 will drop by 2.6 million barrels per day, and then achieve a moderate recovery of 500,000 barrels per day next year.
According to statistics from Sino-Singapore Jingwei Client, since 2020, domestic refined oil price adjustments have been carried out 17 rounds. Specifically, three adjustments have been made, three adjustments have been made, and eleven times have been stranded. A total of 1,545 yuan/ton for gasoline and 1,490 yuan for diesel /Ton.
Among them, the six rounds of adjustments from March 31 to June 11 were all stranded because the crude oil price in the international market was below $40 per barrel.
If the current round of refined oil price adjustment is lowered, the domestic refined oil price adjustment in 2020 will show a pattern of "three ups, four downs, and eleven stranded".
Zhongyu Information said that if this round of refined oil retail prices are fulfilled as scheduled, the cost of vehicles during the National Day holiday will fall.
For private cars, based on the current gasoline reduction of 330 yuan/ton, it is estimated that a full tank of gasoline will cost about 12.5 yuan less based on the 50L capacity of a general fuel tank.
Longzhong Information Li Yan believes that the next round of price adjustment window will be opened at 24:00 on October 9, 2020. Recently, international crude oil market prices have rebounded from this round of benchmarks. It is expected that the probability of the next round of refined oil price adjustments will increase.
(Zhongxin Jingwei APP)
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