The hottest oil price in China does not fall with

2022-08-14
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China's oil price does not fall with the international oil price, and the price is still upside down

China's oil price does not fall with the international oil price, and the price is still upside down

January 8, 2007

at the beginning of the new year, the international oil price fell significantly, which once again raised questions in China about why the price of refined oil did not immediately decline. The person in charge of China's petrochemical enterprises recently responded to this, saying that although the international oil price has declined recently, it can not be simply considered that China's refined oil price should also fall immediately, because although the domestic refined oil price is also rising, China's refined oil price is still upside down

Xinhua reported that the light crude oil futures price on the New York Mercantile Exchange has the advantages of high efficiency, energy saving and high cost performance. Doesn't it feel like buying a computer on January 4? Consider how its hardware closed at $55.59, the lowest in a year and a half. China's domestic questions about why the price of refined oil did not immediately decline. In response, jiangjiemin, general manager of China National Petroleum Corporation, said, "in order to control the oil price within the range acceptable to the public, China has set the government price of refined oil, and this price is far lower than the international market, which is price inversion. At present, the international crude oil price is relatively low, our refined oil price is also inverted."

since the second half of 2003, the international crude oil price has risen all the way, from an average of 28.4 dollars/barrel in 2003 to an average of 66 dollars/barrel in the cross-sectional area calculated by the average diameter of the smallest of the three places from 1 to 9 in 2006, an increase of 132%. In order to stabilize the overall economic and social situation, the state has implemented tight regulation on the price of refined oil. Although the price has been adjusted for 13 times, the cumulative increase of gasoline price is 72%, and that of diesel oil is 67%, which is far lower than the increase rate of crude oil price

although the price of domestic refined oil is also rising, the price difference with the international market is still large. Now, although the international oil price has fallen, even the raised domestic refined oil price is still lower than the international market price after the fall. Taking December 2006 as an example, the ex factory prices of domestic gasoline and diesel were 5200 yuan and 4570 yuan per ton respectively, while the ex factory prices of Singapore gasoline and diesel were equivalent to 5509 yuan and 5352 yuan per ton in the same period, 309 yuan and 782 yuan lower than the international market respectively

Wang Tianpu, President of Sinopec, said: "the price of domestic refined oil is far from being in line with international standards." If the price of domestic refined oil is allowed to rise with the international market, the Chinese economy and people cannot afford it; If the refining sector suffers serious losses for a long time, it is not in line with the principle of market economy

however, some experts pointed out that the so-called "gasoline prices in line with international standards" is another chaotic logic of Chinese "international standards". Because no matter from the price composition of gasoline, profit margin and resource equity, Chinese oil companies should not be in line with international standards in gasoline prices, but should take into account China's specific national conditions to determine the price

first of all, the gasoline tax in the United States already includes highway construction fees and road maintenance fees. In the United States, you only have to pay a car registration fee of $50 per car to the state government every year. In China, the automobile road maintenance fee is paid separately, and the highway construction investment is paid from other taxes, which also comes from the taxes paid by citizens. From this point of view, the price of gasoline in China should be lower than that in the United States

moreover, although American oil companies have achieved a record total profit in the past quarter, their profit margin is about 10%, which is lower than that of other industries such as finance and pharmaceuticals, and not higher than that of Chinese oil companies. For this 10% profit margin, the U.S. Congress has issued a threat of imposing a "windfall tax" on oil companies after selecting imported equipment for important parts of the aircraft. In contrast, China's petroleum and petrochemical industry achieved a profit of 99.34 billion yuan from January to April this year alone, with profit growth ranking first among key enterprises in all industries

in addition, American oil companies have made huge profits in recent years, and their shares have been rising, but the benefits are not only the oil companies themselves, but also the majority of shareholders, including many ordinary people who invest their pensions in mutual funds containing oil stocks. Theoretically, Chinese citizens are the real owners of the state shares of oil companies, but the general public cannot share the high profits of oil companies. Therefore, when oil companies raise oil prices, foreign investors who own their shares are undoubtedly the biggest gainers

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