Source: People's Daily Online original article
People's Daily Online, Beijing, July 14 (Reporter Du Yanfei) "It's great, the price of oil has dropped again, and it's much cheaper to fill up a tank of oil. I'm going to refuel now." Ms. Zhang, who lives in Chaoyang District, Beijing, happily said that a few days ago, the fuel tank of her private car was about to "bottom out" and she refrained from refueling just to wait for the oil price to drop again.
Domestic oil prices have been adjusted several times in 2022. Data source: National Development and Reform Commission website
The National Development and Reform Commission stated that based on recent changes in oil prices in the international market and in accordance with the current refined oil price formation mechanism, starting from 24:00 on July 12, domestic gasoline and diesel prices will decrease by 360 yuan and 345 yuan per ton respectively. . After converting into price increases, No. 92 gasoline will be reduced by 0.28 yuan per liter, No. 95 gasoline will be reduced by 0.30 yuan per liter, and No. 0 diesel will be reduced by 0.29 yuan per liter.
This price adjustment is the third time domestic oil prices have been lowered this year, and it is also the first time this year that there have been "two consecutive drops". After the price adjustment, the price adjustment of refined oil products during the year showed a pattern of “ten increases and three decreases”. Based on the estimated capacity of a typical household car fuel tank of 50L, filling up a tank of No. 92 gasoline will cost you 14 yuan less. Reporters from
found that after this round of price cuts for refined oil products, except for Hainan and some multi-price areas, the price of No. 92 gasoline in other regions will return to the "8 yuan" era. Taking "Beijing, Shanghai and Guangzhou" as an example, the highest retail price of No. 92 gasoline in Beijing is 8.78 yuan/liter, the highest retail price of No. 92 gasoline in Shanghai is 8.74 yuan/liter, and the highest retail price of No. 92 gasoline in Guangzhou is 8.8 yuan/liter.
According to monitoring by the Price Monitoring Center of the National Development and Reform Commission, international oil prices fell sharply during this round of refined oil price adjustment cycles (June 28 to July 11). On average, London Brent and New York WTI oil prices fell by 4.95% compared with the previous price adjustment cycle. Oil prices are expected to remain volatile in the short term. On the one hand, the tight global crude oil supply situation has not been effectively alleviated, which has provided support to oil prices. On the other hand, the market is worried about the global economic recession, which has suppressed demand for crude oil. Under the influence of multiple factors, the frequency of oil price fluctuations may intensify.
"During this pricing cycle, international crude oil prices showed a volatile downward trend. Although at the end of the pricing cycle, market supply concerns caused oil prices to rise again, the overall crude oil price still showed a downward trend." Jinlianchuang refined oil analyst Ma Jiancai told People Net reporter said.
The next refined oil price adjustment window will open at 24:00 on July 26. Li Yan, a refined oil analyst at Longzhong Information , told People's Daily Online that based on the current international crude oil price level, the next round of refined oil price adjustments will start with a downward trend. At present, although the supply tightening is still expected, the market's concerns about the economy and demand continue, and it is expected that the next round of refined oil price adjustment is more likely to be reduced.
It is worth noting that according to the current refined oil price mechanism, domestic refined oil prices change according to international oil prices (the average price of the 10 working days before the refined oil price adjustment date) and are adjusted every 10 working days. According to the relevant provisions of the " Petroleum Price Management Measures ", when the international oil price exceeds the upper limit of US$130 per barrel, in principle, the price of gasoline and diesel will not be mentioned or mentioned less.
At the end of June this year, the Ministry of Finance and the National Development and Reform Commission issued the "Notice on Implementing Phased Price Subsidies after the International Oil Price Hits the Regulatory Upper Limit" (hereinafter referred to as the "Notice"). It is clear that when the international oil price is higher than 130 US dollars per barrel, Domestic refined oil prices will no longer be raised in phases. At the same time, the central government will implement phased price subsidies to refineries to offset the increase in international oil prices. The duration of the policy is tentatively two months.
"The "Notice" is a policy fine-tuning for the domestic refined oil price control under the situation of high international oil prices. It is a kind of improvement and supplement to the oil price management methods and is formulated for the possible further rise in international crude oil prices. It is a response plan to avoid the negative effects that will occur if oil prices continue to rise, which may have a direct impact on the supply of the domestic oil market," said Dong Xiucheng, executive director of the Institute of International Business Strategy at the University of International Business and Economics.
Attached: The highest retail price of No. 92 gasoline in various places
Haikou, Hainan: No. 92 gasoline 9.89 yuan/liter
Lhasa, Tibet: No. 92 gasoline 9.65 yuan/liter
Guiyang, Guizhou: No. 92 gasoline 8.91 yuan/liter
Chengdu, Sichuan: No. 92 gasoline 8.87 yuan/liter
Chongqing: No. 92 gasoline 8.83 yuan/liter
Nanning, Guangxi: No. 92 gasoline 8.83 yuan/liter
Guangzhou, Guangdong: No. 92 gasoline 8.8 yuan/liter
Shenzhen: No. 92 gasoline 8.8 yuan/liter
Hubei Wuhan: No. 92 gasoline 8.79 yuan/liter
Zhengzhou, Henan; No. 92 gasoline 8.79 yuan/liter
Beijing: No. 92 gasoline 8.78 yuan/liter
Lanzhou, Gansu: No. 92 gasoline 8.78 yuan/liter
Shijiazhuang, Hebei: No. 92 gasoline 8.78 yuan/liter
Tianjin: No. 92 gasoline 8.78 yuan/liter
Shandong Jinan: No. 92 gasoline 8.76 yuan/liter
Liaoning Shenyang: No. 92 gasoline 8.75 yuan/liter
Heilongjiang Harbin: No. 92 gasoline 8.74 yuan/liter
Jilin Changchun: No. 92 gasoline 8.74 yuan/liter
Nanjing, Jiangsu: No. 92 gasoline 8.74 yuan/liter
Shanghai: No. 92 gasoline 8.74 yuan/liter
Xining, Qinghai: No. 92 gasoline 8.74 yuan/liter
Hangzhou, Zhejiang: No. 92 gasoline 8.74 yuan/liter
Fuzhou, Fujian : No. 92 gasoline 8.73 yuan/liter
Nanchang, Jiangxi: No. 92 gasoline 8.73 yuan/liter
Changsha, Hunan: No. 92 gasoline 8.72 yuan/liter
Hefei, Anhui: No. 92 gasoline 8.72 yuan/liter
Taiyuan, Shanxi: No. 92 gasoline 8.72 yuan /liter
Hohhot, Inner Mongolia: No. 92 gasoline 8.71 yuan / liter
Ningxia Yinchuan: No. 92 gasoline 8.67 yuan / liter
Shaanxi Xi'an: No. 92 gasoline 8.65 yuan / liter
Xinjiang Urumqi: No. 92 gasoline 8.49 yuan / liter
Note: Data Sourced from the websites of various provincial and municipal development and reform commissions, gasoline prices include consumption tax, value-added tax, urban construction tax and education fees , and Tibet gasoline prices are calculated per liter.
