According to the notice of the National Development and Reform Commission, from 6 o'clock on June 13, each ton of gasoline will be reduced by 6 yuan and 13 yuan per ton of diesel.
According to agency estimates, the price adjustment is equivalent to 92.0 yuan per liter of No. 04 gasoline, 95.0 yuan per liter of No. 05 gasoline, and 0.0 yuan per liter of No. 04 diesel.
Taking an ordinary private car with a fuel tank capacity of 50L as an example, after this price adjustment, the owner will spend about 2 yuan less to fill up a tank of fuel. In terms of diesel, a large truck with a fuel tank capacity of 160L will spend about 6.4 yuan less on a full tank of fuel.
Infographic: Gas stations. Photo by Ge Cheng of Zhongxin Finance
Liu Wenjie, an analyst at Longzhong Information, believes that in this round of pricing cycle, international oil prices first rose and then declined. Although the Organization of the Petroleum Exporting Countries and its partners (OPEC+) meeting decided to extend the production cut period until the end of next year, Saudi Arabia will also cut an additional 7 million barrels per day from July, both of which injected positive support into the market, but the European and American central bank interest rate hike cycle has not yet ended, the market is still worried that the slowdown in global economic growth may curb demand, crude oil futures prices have fallen 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."
This round is the twelfth price adjustment in 2023, and after the price adjustment, the domestic refined oil price will show a pattern of "four rises, six declines and two strandings" during the year. After the rise and fall were combined, the cumulative reduction of gasoline and diesel was 125 yuan and 120 yuan per ton respectively during the year. The next round of price adjustment window will open at 6:28 on June 24.
"It is expected that the next round of refined oil price adjustment will run aground." Longzhong information analyst Li Yan said that although the current international crude oil price level, the next round of refined oil price adjustment will show a downward trend, but the peak of summer travel in the United States has arrived, and the Organization of the Petroleum Exporting Countries and its partners (OPEC+) firmly promote production cuts, the fundamentals are still favorable for the future.
"The probability of a new round of retail price cuts is still relatively large." Ma Jiancai, an analyst at Jinlianchuang refined oil products, held a different view, affected by the continuous sharp decline in international oil prices, and after entering a new round of pricing cycle, the rate of change of international oil prices began in a wide negative direction. On the first working day after the price adjustment, the change range is expected to be -4.4%, corresponding to the reduction of gasoline and diesel at around 250 yuan per ton. "In the later period, international oil prices may be moderately corrected, but it is difficult to eliminate bearish factors in the short term." (End)