price adjustments in accordance with 10 working days. After the first stranded oil price adjustment on October 10, this round of refined oil price adjustment will start at 24:00 pm next Monday (October 24). During the National Day, the accumulated increase This round of oil price adjustment may be raised for the 12th time this year, showing a pattern of 12 ups and 7 downs and 1 stranded. At the same time, the driver will spend more money to fill the fuel tank.
As of now, the market is expected to increase by 195 yuan/ton, and the price of gasoline and diesel is correspondingly increased by 0.17 yuan/liter. Private cars that exceed 50L will cost about 8.5 yuan.
Jiangxi's gasoline and diesel retail prices on October 21 showed that the price of No. 92 gasoline was 8.15 yuan/liter, the price of No. 95 gasoline was 8.75 yuan/liter, and the price of No. 0 diesel was 7.91 yuan/liter. According to the price adjustment expectations, the retail prices of No. 92, No. 95 gasoline and No. 0 diesel will be 8.42 yuan/liter, 8.92 yuan/liter, and 8.08 yuan/liter, respectively.
The retail price of No. 95 gasoline in some areas will also enter the "9 yuan era" ahead of schedule, such as Guangdong, Guangxi, Guizhou and other provinces and cities.
Biden release oil reserves are hard to match OPEC+ production cuts
International oil prices fluctuated and rose this week due to OPEC+ production cuts plan, but Biden continued to release oil reserves to cool down oil prices and announced an additional 15 million barrels of reserve oil release plan. As a result, international oil prices did not fall sharply. US WTI oil continued to fluctuate around $85, and Brent oil fluctuated around $90.
OPEC+ announced a 2 million barrels per day production cut in early October, but the agency expects that due to insufficient oil production capacity of oil-producing countries such as Venezuela and Nigeria , the actual production cut may only be 1 million barrels per day. Even so, OPEC+ oil-producing countries still insist on reducing production. Foreign media reported that it may be because of concerns that the strategy of limiting Russian oil at $40 per barrel will be used on OPEC oil-producing countries.
In addition, the probability of Fed observation and analysis of the probability of hiking interest rates of 475 basis points in November was 97.5%, and the probability of hiking interest rates of 450 basis points was only 2.5%.
reserve oil release, Fed interest rate hike and OPEC production cuts offset each other, prompting international oil prices to consolidate at high levels this week. This round of oil price adjustment will be scheduled to increase by 195 yuan/ton on the 24th. At the same time, the risk of Russia and Ukraine and weak oil demand will continue to affect international oil prices, and the adjustment of oil prices in November may continue to increase.
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