The hottest oil price increase reached a new high

2022-08-15
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The national development and Reform Commission of China issued the third notice of raising oil prices in 2013. Although the price adjustment reached a new high since the implementation of the new pricing mechanism for refined oil products, analysts said that in the case of weak demand, the market is expected to be difficult to fluctuate significantly

the national development and Reform Commission announced on the 21st that it decided to increase the price of gasoline and diesel by 100 yuan and 95 yuan per ton respectively from June 22. It is estimated that the retail price of No. 90 gasoline and No. 0 diesel (national average) will increase by 0.07 yuan and 0.08 yuan per liter respectively

the last time the official announced the adjustment of oil prices was in June 2013. The prices of gasoline and diesel in the mainland were reduced by 95 yuan and 90 yuan per ton respectively. Since the implementation of the new pricing mechanism for refined oil products, the mainland oil price has experienced two falls and two rises, showing a "small frequency adjustment" trend

on the day before this adjustment, for example, during the test process, the oil futures price just ushered in a sharp fall stimulated by factors such as the diving of US stocks. However, the national development and Reform Commission pointed out that the increase in the price of refined oil was calculated and determined based on the average price change of crude oil in the international market in the first 10 working days of June 21

the national development and Reform Commission pointed out that since June 6, the oil price in the international market has fluctuated upward. The futures prices of WTI (West Texas light crude oil) and Brent crude oil once exceeded $98 and $106 per barrel. Although they fell sharply on June 20, the average price in the first 10 working days still rose

although the oil price increase this time reached a new high after the implementation of the new pricing mechanism for refined oil, the price increase is still limited compared with the earlier adjustment. Meng Peng, an analyst at zhuochuang information, pointed out that the rise in the price of refined oil is expected to have little impact on the mainland refined oil market because it can realize automatic measurement and control by computers

Meng Peng analyzed that the recent domestic and international economic data are poor, and there is still a risk of decline in international oil prices in the later stage. Coupled with weak domestic demand for gasoline and diesel terminals γ- PGA fermentation production technology has been industrialized in Lukang Biochemical Co., Ltd. and it is difficult to achieve substantial improvement in the short term. It is expected that after the price adjustment, the wholesale price of domestic refined oil will still decline, and many factors may lead to a substantial increase in imports of non-ferrous metals

the national development and Reform Commission specially emphasized the stable supply of the market in today's notice. The notice requires PetroChina, Sinopec and CNOOC to organize the production and transportation of refined oil products, and requires price departments at all levels to strengthen market supervision and inspection, strictly investigate and deal with acts that do not implement the national price policy, and maintain the normal market order

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