CCTV Finance and Economics (Reporter Pingfan Sun Yonghui) According to the monitoring of the Price Monitoring Center of the National Development and Reform Commission, international oil prices rose during the current round of refined oil price adjustment cycle (April 1-April 15). On average, London Brent and New York WTI oil prices rose by 4.04% compared with the previous price adjustment cycle.
The reporter learned from the National Development and Reform Commission today that from 24 o'clock on April 16, domestic gasoline and diesel were raised by 200 yuan and 195 yuan per ton respectively.
On the national average:
No. 92 gasoline increased by 0.16 yuan per liter;
No. 95 gasoline increased by 0.17 yuan per liter;
No. 0 diesel was raised by 0.17 yuan per liter.
CCTV financial reporter calculated an account for you, according to the average family car fuel tank 50L capacity estimate, a full tank of 92 gasoline, will cost 8 yuan more.
Intensified geopolitical conflict and upward support for oil prices
During the price adjustment cycle, geopolitical conflicts intensified, and the "risk premium" of the crude oil market rose significantly. Israel bombed the Iranian embassy in Syria, and Iran fired missiles and drones at Israel as a "retaliation", and the situation in the Middle East was renewed. Against the backdrop of OPEC+ maintaining production cuts, warmer weather leading to start-ups and an increase in travel consumption, the further intensification of tensions between Iran and Israel has strengthened market concerns about possible supply damage and continued tight supply-demand relations, and oil prices have been supported to the upside. Citigroup, Mizuho and other institutions raised their oil price forecasts, and speculative funds poured into the futures market to "buy long", which contributed to the rise in oil prices. Compared with the previous price adjustment cycle, the oil prices of Brent in London and WTI in New York rose by 3.79% and 4.3% respectively in this cycle.
The National Development and Reform Commission's Price Monitoring Center predicts that the development of the situation in the Middle East is the most important factor affecting the short-term oil price trend. The conflict between Iran and Israel is essentially an extension of the Palestinian-Israeli conflict, and there is no ceasefire agreement in Gaza, and the "risk premium" of crude oil is difficult to recede. Based on current information, the parties involved in the conflict are relatively "restrained", which contributes to the stability of oil prices. But if the situation deteriorates and regional powers or even Western countries get involved, it will have a strong support for oil prices.
Source: CCTV Finance