Oil prices have plummeted, returning to the "7 yuan era"!
After many months of high-level operation, domestic refined oil prices finally ushered in a sharp decline in May. The price adjustment is so large that it is called "the biggest decline this year" by industry insiders. For the majority of car owners, this is undoubtedly an exciting good news.
According to the latest news, a new round of refined oil price adjustment will officially take effect at 24 o'clock on May 15. According to the current exchange rate and other factors, it is expected that the price of gasoline will drop by 230 yuan per ton, equivalent to a decrease of about 0.17-0.21 yuan per liter. This means that the price of No. 92 gasoline and No. 95 gasoline will drop below 7 yuan, returning to the price level of the "7 yuan era".
Such a large decline is not common in China. Over the years, due to the sharp fluctuations in international crude oil prices, domestic refined oil prices have also shown a phased "roller coaster" trend, sometimes rising, sometimes falling. But it is still relatively rare for a continuous decline of more than 200 yuan/ton like this time.
It should be pointed out that domestic oil prices have remained high in the past few months. As of the end of April, the listed price of No. 92 gasoline had climbed above 8 yuan per liter, and it cost nearly 700 yuan to fill up a tank of oil in first-tier cities. This is already a significant expense for many families.
The main reason for such a sharp decline is that international crude oil prices have continued to fall recently. Analysts pointed out that the continued recovery in production in major oil-producing countries such as the United States and Saudi Arabia, coupled with the slowdown in global economic growth and weak demand, led to an oversupply of crude oil, and prices naturally declined.
This is undoubtedly a great time for car owners to open their wallets. According to estimates, if calculated according to the reduction of 230 yuan/ton, filling up a tank of 92 gasoline (50 liters) can be at least 10 yuan cheaper than before. For those drivers and operators who travel long distances, the savings on fuel costs are undoubtedly a significant amount.
Of course, we also have to look at the impact of the fall in oil prices objectively. In the long run, low oil prices will undoubtedly stimulate the growth of car ownership and usage, thereby increasing the consumption of oil resources and environmental pressures. Therefore, enterprises engaged in automobile, aviation and other related industries should start transformation and upgrading in the future, focusing on energy conservation and emission reduction.
On the other hand, oil is an important import resource for the mainland. If oil prices continue to run at low levels, it will affect the earnings of oil companies and oil producers to a certain extent. This may force related industries to accelerate the pace of industrial adjustment and transformation, and seek new profit growth points. In general, low oil prices are good for people in the short term, but in the long run, it is still necessary to balance the coordinated development of the economy, resources and the environment.
As it stands, it's a good time to save money for car owners. According to industry estimates, if oil prices can continue to run at a low level in the next month, then compared with the previous high level, the country's automobile consumers can save at least 30 billion yuan in fuel costs. This is a real burden reduction for people who just need to buy a car or often travel long distances.
At the same time, low oil prices usually mean a decrease in transportation costs, which will further reduce the production and operation costs of enterprises, and will also have a positive effect on maintaining the basic stability of the price level. However, oil prices fluctuate too frequently, which can also increase the operating costs and risks of enterprises. Therefore, all walks of life still need to pay close attention to energy storage and transportation cost control.
Some analysts pointed out that oil prices are more likely to continue to fall in the short term. The International Energy Agency (IEA) has continuously lowered its forecast for global crude oil demand growth in 2023, mainly due to geopolitical conflicts, repeated epidemics and other reasons, and the growth of many economies has slowed down. While demand is weak, U.S. production continues to recover, Russian exports remain high, and OPEC production capacity is gradually recovering. All indications indicate that supply may exceed demand for some time to come, and the crude oil market will continue to loosen.
However, some experts say that as a commodity, crude oil prices tend to fluctuate cyclically. Although the current situation seems to be oversupplied, it does not mean that crude oil will always be bearish. Once the economy stabilizes, geopolitical risks ease, and oil demand picks up in the future, the relationship between supply and demand will reverse. Oil prices are likely to rise again.
Therefore, for ordinary car owners and businesses, the current stage of low oil prices is a good time to fill up their reserves. As long as your family allows, you may want to stock up on more fuel at this time to reduce possible spending pressures in the future. At the same time, enterprises should also seize the opportunity to do a good job in cost control in transportation, energy and other aspects.
In general, the current round of oil price plunge has certain stage characteristics. It relieves the short-term burden for car owners and businesses,
It is conducive to stabilizing the current price level, but in the long run, there is still uncertainty in the energy supply and demand situation. Enterprises and governments should further strengthen energy conservation and emission reduction, and transform the traditional resource-intensive development mode to achieve sustainable development.