Chinanews client, Beijing, June 11 (Reporter Zhang Xu) Domestic oil prices have risen for the eighth time this year.

According to the notice from the National Development and Reform Commission, at 24:00 on June 11, the increase was 175 yuan per ton of gasoline and 170 yuan per ton of diesel.

  According to the agency's calculations, it is equivalent to a price increase of 0.14 yuan per liter for 92# gasoline, 0.14 yuan per liter for 95# gasoline, and 0.14 yuan per liter for 0# diesel.

Based on an ordinary private car with a fuel tank capacity of 50L, after the price adjustment, car owners will spend about 7 yuan more to fill a tank of fuel.

A gas station in Haidian District, Beijing.

Photo by Chinanews reporter Zhang Xu

  During this pricing cycle, OPEC continued to implement a policy of moderately increasing production, while travel restrictions in European and American countries have been relaxed, and market demand has rebounded.

On the whole, crude oil market prices are showing a strong trend, and Brent crude oil futures have repeatedly attacked the $70/barrel mark.

  Longzhong Information analyst Xu Wenwen said, “After the price adjustment, based on an ordinary private car with a fuel tank capacity of 50L, car owners will spend about 7 yuan more to fill a tank of fuel; the price of car diesel in most parts of the country is 6.7-6.8 yuan/ The retail price of 92 gasoline is limited to RMB 6.7-6.9 per liter."

  "After this increase, the price of No. 92 gasoline in individual areas has re-entered the '7 yuan era'."

Zhuo Chuang Information pointed out that this is also the first time that the retail price of 92# gasoline in certain areas in China has exceeded 7 yuan per liter after December 30, 2019.

Overview of the previous price adjustments of domestic refined oil products in 2021.

Image source: Longzhong Information.

  Longzhong Information analyst Li Yan said that after this price adjustment, the price adjustment of refined oil products in 2021 will show a pattern of "eight ups, one down and two strands".

The next price adjustment window will open at 24:00 on June 28, 2021.

  Li Yan believes, “At present, positive factors still have the upper hand, and the economic and demand prospects are improving to support high oil prices. However, negotiations on the Iranian nuclear issue have been restarted. Once the ban is lifted, the negative pressure brought by the increase in Iran’s crude oil supply will increase. The probability of a round of domestic refined oil price adjustments is relatively high."

  Jin Lianchuang analyst Xi Jiarui believes: "The second quarter of each year is the traditional peak season for global crude oil consumption. As the epidemic is brought under control and the global economy is recovering, the demand for crude oil will also show an increasing trend, thereby driving oil prices. It is expected that domestic retail prices of gasoline and diesel will be slightly raised or stranded by then.” (End)