According to the notice of the National Development and Reform Commission, from 10 o'clock on October 10, each ton of gasoline will be reduced by 10 yuan and 10 yuan per ton of diesel.

After the above adjustment is implemented, No. 95 gasoline in most parts of the country will return to the "8 yuan era". According to agency estimates, the price adjustment is equivalent to a reduction of 92.0 yuan per liter of No. 07 gasoline, 95.0 yuan per liter of No. 07 gasoline, and 0.0 yuan per liter of No. 07 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 3.5 yuan less to fill up a tank of fuel. In terms of diesel, a large truck with a fuel tank capacity of 160L will save about 11.2 yuan by filling up a tank of fuel.

Longzhong information analyst Liu Wenjie said that in this round of pricing cycle, international oil prices are weak, and the overall price of crude oil shows a trend of rising and falling, and the decline is more obvious. While U.S. commercial crude inventories fell more than expected, slowing global growth dampened demand expectations, and traders took profits to take profits on the pipeline from northern Iraq to Turkey, both negative for oil prices.

"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."

Infographic: Gas stations. Photo by Ge Cheng of Zhongxin Finance

This round is the twentieth price adjustment in 2023, and after the price adjustment is landed, the price of refined oil will show a pattern of "ten rises, seven falls, and three strandings" this year. This price adjustment is also the first time that domestic oil prices have been lowered in nearly four months, after domestic oil prices were "six rises and one stranded" from late June to late September 2023 due to the impact of international oil prices.

The next round of domestic refined oil price adjustment window will open at 10:24 on October 24.

"It is expected that the next round of refined oil price adjustment will run aground." Longzhong information analyst Li Yan said that at the current international crude oil price level, the next round of refined oil price adjustment will show a downward trend. At present, international crude oil prices have shown a high volatility trend, and the signs of long-short game have been strengthened.

"In the future, under the influence of the geopolitical situation in the short term, there is still room for international crude oil prices to rebound." Wang Yanting, senior analyst of Jinlianchuang refined oil products, said that the new round of oil price change rate is expected to turn from negative to positive, and the news has some support in the face of the later market. (End)