According to the notice of the National Development and Reform Commission, from 4 o'clock on April 28, each ton of gasoline will be reduced by 4 yuan and 28 yuan per ton of diesel.
According to agency estimates, the price adjustment is equivalent to a reduction of 92.0 yuan per liter of No. 12 gasoline, 95.0 yuan per liter of No. 13 gasoline, and 0.0 yuan per liter of No. 13 diesel. Since this price adjustment coincides with the "May Day" holiday, car owners can drive during the small long holiday, and refueling will cost less.
Infographic: Gas stations. Photo by Ge Cheng of Zhongxin Finance
Taking an ordinary private car with a fuel tank capacity of 50L as an example, after this price adjustment, the owner will spend about 6 yuan less to fill up a tank of fuel. In terms of diesel, a large truck with a fuel tank capacity of 160L will cost about 20.8 yuan less to fill up a tank of fuel.
Longzhong Information analyst Liu Wenjie believes that in this round of pricing cycle, international oil prices have weakened. Although the market continues to weigh the risk of recession in Europe and the United States with the good performance of Asian demand, and oil producers will also implement additional production reduction plans from May, the willingness of European and American central banks to continue to raise interest rates remains, and the sharp decline in the stock prices of some banks and the debt ceiling problem have also increased recession fears in the United States, and crude oil futures prices have suffered one after another.
"On the whole, the average price of the affiliated oil type during the pricing cycle has moved downward, and the corresponding comprehensive rate of change of crude oil has run in a negative range, opening the window for this round of retail price reduction."
After this round of price adjustment, domestic refined oil prices showed a pattern of "three rises, four falls and two strandings" during the year. The next round of domestic refined oil price adjustment window will open at 5 o'clock on May 16.
"It is expected that the next round of refined oil price adjustment will run aground." Longzhong information analyst Li Yan analyzed that based on the current international crude oil price level, the next round of refined oil price adjustment will show a downward trend. At present, the additional production reduction plan of oil producing countries from May will be promoted, and the fuel demand in China and Asia is good, and the fundamental support is expected to strengthen.
Zou Xuelian, an analyst at Jinlianchuang refined oil products, believes that the long-short factors in the future market coexist, and international oil prices may first decline and then rise. "Heading into next week, expectations of continued interest rate hikes in major European and American economies are heating up, which has dampened crude oil prices. However, China's May Day holiday is stimulating a recovery in fuel demand, which partially offset the negative sentiment caused by interest rate hikes. (End)