text: Original by Dongchedi Liu Yiwei
[Original by Dongchedi Industry] On October 24, Dongchedi learned from the National Development and Reform Commission website that the new round of refined oil price adjustment window will open at 24:00 today (October 24). The specific situation of this oil price adjustment is as follows: the domestic gasoline and diesel prices increased by 185 yuan and 175 yuan per ton respectively.
The new round of refined oil price adjustment window will be opened at 24:00 today (October 24)
Since 2022, domestic oil prices have gone through 20 rounds of price adjustments, showing a pattern of "twelve rises, seven falls and one stranded". After the rise and fall, the cumulative increase of gasoline by 1,490 yuan/ton and diesel by 1,430 yuan/ton this year. According to this calculation, No. 92 gasoline, No. 95 gasoline and No. 0 diesel rose by 1.15 yuan, 1.24 yuan and 1.21 yuan respectively.
Since 2022, domestic oil prices have gone through 19 rounds of price adjustments
During the previous round of oil price adjustment, international oil prices had originally reached the low point at the beginning of the year, but due to OPEC 's decision to reduce production, international oil prices have risen continuously, offsetting the previous decline.
As of the close of October 21, the price of light crude oil futures delivered on the New York Mercantile Exchange in December rose by $0.54 to close at $85.05 per barrel, with the increase of at 0.64%; the price of London Brent crude oil futures delivered in December rose by $1.12 to close at $93.50 per barrel, with the increase of 1.21%.
Refined oil retail end expectation to increase, narrowing
The good news is that as the impact of OPEC's production cuts is digested by the market, the hidden worries of economic downturn impacting demand have begun to exert force, and crude oil has closed down continuously after the National Day holiday.
On October 18, senior U.S. government officials revealed that U.S. President Biden will announce on Wednesday that it will release an additional 10 million to 15 million barrels of crude oil from its strategic oil reserves to make gasoline prices more stable.
analysts said: There is little conflict in the short term, and there is no obvious driving force for the time being. The US reserve selling and OPEC production cuts are playing on the supply side, and demand is resilient. The market's hike of interest rates on 75 basis points has basically been traded. More around emotional disturbances, the price of crude oil is mainly slight fluctuations.
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