China News Service, June 28 Question:
Domestic oil prices will be lowered for the second time this year, and 95 gasoline will be lowered for the second time this year. Say goodbye to the "10 yuan era"
Ge Cheng from China-Singapore Finance
According to the notice from the National Development and Reform Commission, starting from 24:00 on June 28, the price of gasoline will be reduced by 320 yuan per ton, and the price of diesel will be reduced by 310 yuan.
This is the second reduction in domestic refined oil prices this year.
The agency estimates that the price adjustment is equivalent to 0.25 yuan per liter of No. 92 gasoline, 0.27 yuan per liter of No. 95 gasoline, and 0.26 yuan per liter of No. 0 diesel.
After this round of price adjustments, gasoline No. 92 and No. 95 in some areas will drop below 9 yuan and 10 yuan respectively.
On June 26, the price in a gas station in Xicheng District, Beijing showed that No. 95 gasoline had reached 9.93 yuan per liter.
Photo by Ge Cheng of China-Singapore Finance
Based on an ordinary private car with a fuel tank capacity of 50L, after this price adjustment, car owners will spend about 12.5 yuan less to fill up a tank of fuel.
In terms of diesel, according to the calculation of a large truck with a fuel tank capacity of 160L, a full tank of fuel will cost 41.6 yuan less.
During this round of pricing cycle, although the trend of crude oil prices rebounded at the end of the pricing cycle, the rate of change of crude oil in this round continued to extend negatively, and domestic retail prices ushered in the "second drop" of the year.
This round is the twelfth price adjustment of domestic oil prices in 2022. After the price adjustment, refined oil products will show a pattern of "ten rises and two falls" during the year.
Ma Jiancai, a refined oil analyst at Jinlianchuang, believes that in this round of pricing cycle, the US economic outlook is not expected to be good, and investors' concerns about the impact of interest rate hikes on the outlook for energy demand continue to rise. In addition, the United States plans to introduce policies to combat high oil prices, and international crude oil prices fluctuate. go down.
The previous price adjustments of domestic refined oil products in 2022.
(Data source: National Development and Reform Commission)
The next round of domestic refined oil price adjustment window will open at 24:00 on July 12.
Longzhong Information analyst Li Yan predicts that based on the current international crude oil price level, the next round of refined oil price adjustments will show a slight downward trend at the beginning.
At present, the pressure of Western sanctions against Russia and the summer travel peak in the United States have brought positive support, but the Federal Reserve has indicated that it will continue to raise interest rates, and the market’s worries about the economy and demand continue. There is a high probability that the price adjustment will be stranded.
Xi Jiarui, a crude oil analyst at Jinlianchuang, said that at present, major global analysis institutions are still raising their oil price expectations, which shows that investors still have a longing for crude oil.
Since the third quarter is the peak season for global crude oil consumption, it is expected that during this period, crude oil prices will remain at a high level, and may be expected to decline moderately after entering the fourth quarter.
When affected by special events, the possibility of oil prices hitting $130/barrel cannot be ruled out, but above this price is unsustainable.
(Finish)
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