International oil prices approach 100 US dollars refined oil price adjustment "wind" renewed

International crude oil prices have steadily increased since the beginning of October and are now approaching the 4% price adjustment boundary conditions. The industry believes that if the international oil prices continue to maintain the upward trend, the domestic product oil "price increase window" is likely to open next week. Yesterday, the reporter visited some gas stations in Zhengzhou City and discovered that due to fierce competition, the price of 93 gasoline in private gas stations is still RMB 0.2 per liter lower than that of Sinopec gas stations. The diesel tension that appeared some time ago has basically eased.

The international oil price approached 100 US dollars a barrel. Affected by the unfavorable economic data from Europe and the strength of the US dollar, international oil prices fell slightly on November 14. At the close, the New York Mercantile Exchange's December delivery of light crude oil prices fell 85 cents to settle at US$98.14 per barrel, a decrease of 0.86%. The price of Brent crude oil in London's North Sea delivered in December fell 2.27 US dollars to close at 111.89 US dollars per barrel, a decrease of 1.99%.

Despite this, international oil prices are still approaching the $100 mark per barrel. On October 9th, when China last adjusted its refined oil prices, the international oil price was around US$80 per barrel. After more than a month, international oil prices have quietly approached 100 US dollars per barrel. It is understood that international oil prices on November 11 have risen by 19.29% compared to October 9.

Industry insiders predict that by the end of this year, New York's oil price is likely to once again exceed the $100 per barrel mark.

The shortage of diesel oil has eased. Yesterday afternoon, the reporter saw a Sinopec gas station on Dongfeng Road. The price of No. 93 gasoline here was 7.22 yuan per liter. This was the highest retail price set when the province last adjusted its refined oil price on October 9. price. At a PetroChina gas station on Nanyang Road, the No. 93 gasoline here is 7.17 yuan a litre, which is 0.05 yuan less than a litre of Sinopec. This is also a consistent strategy of PetroChina in Zhengzhou City. The purpose is to maintain its price advantage over Sinopec. In a private gas station on Zhongzhou Avenue, the price of No. 93 gasoline is 6.99 yuan per liter, which is 0.23 yuan lower than that of a Sinopec gas station.

The reporter visited a number of gas stations and found that the shortage of diesel fuel has eased and there has been no broken supply. Some petrol stations still sell diesel No. 0, while others sell No. 10 diesel oil. At a PetroChina gas station on Nanyang Road, diesel No.-10 is priced at RMB 7.53 per litre.

The price adjustment window for refined oil is about to open. According to China's refined oil pricing mechanism, when the international oil price changes for 22 consecutive working days, the weighted average moving price exceeds 4%, the domestic oil price can be adjusted accordingly. On October 8 this year, the National Development and Reform Commission issued a notice and decided to reduce the price of gasoline and diesel by 300 yuan per ton from the midnight on October 9.

Over a period of more than a month, as of November 11 (based on October 7th), the rate of change in the weighted average price of crude oil in Brent/Dubai/Sinta has reached 3.29%, which is closer to 4%.

However, industry insiders said: “When the country specifically adjusts its price, it depends on factors such as domestic economic conditions and CPI, in addition to the extent of changes in international oil prices.”