International oil prices have fallen and domestic oil prices are expected to fall three times in a row, and they will be adjusted again at the end of the month

Mobile China

2024-05-23 15:06Published in Beijing

　　According to the current domestic refined oil price adjustment mechanism, the next round of domestic oil price adjustment will be carried out at 24 o'clock on May 29. Due to the continuous decline in international oil prices, the market is generally expected to usher in a new round of price reductions, and it is expected to achieve a "triple decline" in domestic oil prices.

　　In terms of international oil prices, international oil prices have fallen under pressure recently due to the exhaustion of the Fed's interest rate cut expectations and the statements of many senior officials to suppress the expectation of interest rate cuts, which has led to an increase in market concerns about crude oil consumption expectations. As of 21:00 on May 22, WTI crude oil quotations have fallen to $77.93 / barrel, and Brent crude oil has also fallen to $82.02 / barrel, showing a clear weak trend of volatility.

　　The domestic oil price management mechanism stipulates that oil prices will be adjusted every 10 working days with reference to changes in crude oil in the three places, as well as factors such as taxes and fees, and profits. At present, the fifth working day of the end of this round of pricing cycle, the domestic crude oil change rate is -0.25%, and the price of gasoline and diesel is estimated to fall by 25 yuan/ton. Although the decline is limited and has not yet reached the adjustment standard, with the continuous decline of international oil prices, domestic oil prices may fall under the pressure line and achieve "three consecutive declines".

　　In the domestic spot market, the price of 92/95 gasoline in various provinces and cities remained at the level after the last round of price adjustment. Among them, the mainstream 92 gasoline price in Beijing, Shanghai, Jiangsu and other places is about 7.96~8.06 yuan/liter. Especially in Shandong, the price of No. 92 gasoline has remained at 7.96 yuan/liter, and the local oil price has increased by 0.45 yuan/liter since 2024. However, with the fall in international oil prices and the activation of the domestic oil price adjustment mechanism, this situation is expected to change by the end of the month.

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