China News Service, January 17th (China News Finance and Economics Ge Cheng) According to the National Development and Reform Commission's notice, from 24:00 on January 17th, gasoline will be reduced by 205 yuan per ton, and diesel oil will be reduced by 195 yuan per ton.
This round is the second domestic oil price adjustment in 2023. After the price adjustment, refined oil will show a pattern of "one rise and one fall" during the year.
After the two price adjustments have been offset by ups and downs, gasoline and diesel have been raised by 45 yuan per ton, basically returning to the level at the end of 2022.
Data map: gas station.
Photo by Ge Cheng, Sino-Singapore Finance and Economics
As the price adjustment is close to the Spring Festival, car owners will further reduce their travel expenses for driving back home and visiting relatives and friends around the Spring Festival.
According to agency estimates, this price adjustment is equivalent to a reduction of 0.16 yuan per liter for No. 92 gasoline, 0.17 yuan per liter for No. 95 gasoline, and 0.17 yuan per liter for No. 0 diesel.
Taking an ordinary private car with a fuel tank capacity of 50L as an example, after this price adjustment, the car owner will spend about 8 yuan less to fill up a tank of fuel.
In terms of diesel, for a large truck with a fuel tank capacity of 160L, it will cost about 27.2 yuan less to fill up a tank of fuel.
Liu Wenjie, an analyst at Longzhong Information, believes that during the current pricing cycle, international oil prices are weak and volatile.
Although inflationary pressures in the United States continue to ease, the Fed may further slow down interest rate hikes, and local demand in Asia is also recovering steadily, Iranian crude oil exports hit a new high in the last two months of last year since 2019, and relatively warm temperatures in the northern hemisphere also reduced fuel consumption. Heating demand, short-term supply is more abundant.
"On the whole, the average price of anchored oil species has moved down during the pricing cycle, and the corresponding comprehensive rate of change of crude oil has moved in a negative range, opening the window for this round of retail price reductions."
The next round of domestic refined oil price adjustment window will open at 24:00 on February 3.
"It is expected that the next round of refined oil price adjustments will have a higher probability." Li Yan, an analyst at Longzhong Information, said that based on the current international crude oil price level, the next round of refined oil price adjustments will start to show an upward trend.
At present, the inflationary pressure in the United States continues to slow down, and the reduction of the Fed's interest rate hike to 25 basis points is a high probability event. Superimposed with the continuous recovery of demand in China and Asia, the demand outlook has improved.
"From the perspective of the next round of pricing cycle, the trend of international oil prices is relatively strong in the short term. The upward revision of expectations will continue to support the market, and the news support still exists." Ma Jiancai, an oil analyst at Jinlianchuang, also holds the same view.
(Finish)
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