Domestic oil prices may rise. The specific time is 24:00 on February 3, 2023. At that time, our country will usher in the third oil price adjustment this year. Gasoline and diesel prices will undergo new changes. The prices of No. 92, No. 95 gasoline, and No. 0 diesel will also see new fluctuations. The retail price limit of refined oil at gas stations across the country will change, as will the cost of filling up a tank of gasoline for car owners. Of course, oil prices may rise, supported by the main indicators for price adjustment reference. For example, the change rate of crude oil remains within a positive range. The change rate exceeded 5.10% on the third working day of this pricing cycle. The cumulative increase in oil prices is predicted to exceed the 200 yuan/ton mark, which increases the probability of a new round of refined oil price increases. On February 3, 2023, domestic gasoline and diesel prices may usher in the "second rise" of the year.
is converted into a liter price. It is expected that the oil price will increase by 0.16 yuan/liter to 0.19 yuan/liter. It is obviously in full compliance with the basic standards for oil price increases. This may lay the foundation for price increases. It is initially expected that the price increase of 92# and 95# gasoline prices will continue to expand. Car owners will need to spend 8 yuan to 9 yuan more to fill a tank of 50 liters of gasoline. The first work of the pricing cycle has begun. The daily oil price is predicted to increase significantly, which fully shows that the rising momentum is more prominent. If the upward trend continues in the next few working days, then this round of refined oil price increases is a high probability event. By then, the retail price of refined oil in the market will be raised for the second time after the Spring Festival holiday. After the rise and fall offset each other, oil prices remain in the upward channel. It is exactly the same as the market situation at the beginning of last year. The cost of oil for consumers is relatively expensive.
Secondly, although there has been a slight correction in international oil prices recently, weak economic data has intensified investors' concerns about the US economy entering a recession, which has suppressed oil prices. In addition, referring to the latest developments, due to the stimulation of optimistic expectations on the market demand side, international crude oil futures prices rose in the overnight market. On the morning of the 26th, prices rose and fell, and then consolidated in a narrow range. At the close, international oil prices showed a slight increase.
As of the close of the day on the 26th, the price of light crude oil futures for delivery in March 2023 on the New York Mercantile Exchange in the United States rose by US$0.86 to close at US$81.01 per barrel, an increase of 1.07%. The price of Brent crude oil futures for delivery in March 2023 in London, UK rose $1.35 to close at $87.47 per barrel, an increase of 1.57%. Obviously, the prices of WTI and Brent crude oil have been fluctuating upward in general, and the quotations are at a higher price than at the beginning of the year. In view of the subtle relationship between international oil prices and my country's refined oil prices, in the context of the rise in crude oil prices, domestic oil prices are expected to increase gradually. The latest forecast increase exceeds 200 yuan/ton. Because of this, domestic oil price increases may become a trend, and prices will rise soon after the Spring Festival.
Furthermore, according to data released by the U.S. Department of Commerce that morning, the U.S. GDP growth rate in the fourth quarter of 2022 was 2.9% on an annualized basis, higher than market expectations of 2.7%. , but lower than the 3.2% month-on-month growth rate in the third quarter of 2022; the value of new orders for durable goods in the United States in December 2022 was US$286.9 billion, a month-on-month increase of 5.6%, higher than market expectations of 2.8%, and the month-on-month decline in this data in November 2022 was revised from -2.1% to -1.7%.
To sum up, domestic oil prices may rise. Stimulated by optimistic expectations on the market demand side, international crude oil futures prices have risen several times in the overnight market. Affected by this, it is expected that my country's oil prices may rise for the second time this year on February 3, 2023. The prices of 92- and 95-octane gasoline will both increase, and car owners will increase their refueling costs. We hope consumers will continue to pay attention to the latest developments in oil prices.
