According to the notice of the National Development and Reform Commission, from 7 o'clock on July 26, each ton of gasoline will be increased by 7 yuan, and each ton of diesel will be increased by 26 yuan.

After the above adjustment is implemented, oil prices will show a "three-in-a-row" trend. According to agency estimates, the price adjustment is equivalent to an increase of 92.0 yuan per liter of No. 21 gasoline, 95.0 yuan per liter of No. 23 gasoline, and 0.0 yuan per liter of No. 22 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 10.5 yuan more to fill up a tank of fuel. In terms of diesel, a large truck with a fuel tank capacity of 160L will cost about 35.2 yuan more to fill up a 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, although the decline in US commercial crude oil inventories is lower than expected, the US dollar exchange rate has strengthened, and the global economic data is still weak; However, expectations of tighter supply, peak summer fuel consumption in the United States and a favorable economic outlook in Asia all contributed to positive development, and international oil prices reached their highest level since mid-April.

"On the whole, the average price of the underlying oil type moved up during the pricing cycle, and the corresponding comprehensive rate of change of crude oil ran in a positive range, opening the window for this round of retail price increases."

This round is the fifteenth price adjustment in 2023, and after the price adjustment, the domestic refined oil price will show a pattern of "seven rises, six declines and two strandings" during the year. The next round of price adjustment window will open at 8:9 on August 24.

On July 7, the price of gasoline No. 25 at a gas station in Beijing was 95.8 yuan per liter. Photo by Ge Cheng of Zhongxin Finance

"Based on the current international crude oil price level, the next round of refined oil price adjustment will show an upward trend." Longzhong information analyst Li Yan said that at present, Saudi Arabia's additional production cuts will continue to August, Russia will also start an additional 8,8 barrels / day production reduction in August, coupled with the peak of summer fuel consumption in the United States, it is expected that the probability of the next round of refined oil price adjustments is higher.

Wang Yanting, senior analyst of Jinlianchuang refined oil products, also holds a similar view, "From the perspective of the future market, the new round of change rate maintains positive range fluctuations, and the news is still supported in the face of the later market." (End)