Business News Agency October 10th The National Development and Reform Commission recently issued a notice to cut the maximum retail price of gasoline and diesel at RMB 300 per ton at 0:00 on October 9th. It is estimated that the price of gasoline will be reduced by approximately 0.22 yuan/liter; diesel price will be lowered by approximately 0.26 yuan/liter. In response to a reporter’s question, relevant officials of the National Development and Reform Commission pointed out that domestic oil price adjustments are mainly based on the changes in the relevant crude oil prices in the international market over a period of time, and there is no problem of “more or less growth†or “faster growth or slower growthâ€.
According to relevant officials of the National Development and Reform Commission, according to the current pricing mechanism, domestic oil price adjustments are mainly based on changes in the prices of relevant crude oil in the international market over a period of time. In other words, when the price of a certain crude oil in the international market changes a lot on a certain day or days, the domestic finished product The price of oil may not be adjusted. Only when the average price of oil in the international market changes more than 4% for 22 consecutive working days, will the country adjust domestic refined oil prices accordingly. This is mainly to avoid drastic fluctuations in oil prices in the international market leading to domestic oil prices. Oil prices are adjusted frequently.
Since the adjustment of domestic refined oil prices on April 7 this year, oil prices in the international market have generally shown high levels of shocks. The specific trends can be roughly divided into three stages. First, in late April and early May, oil prices in the international market continued to fluctuate upward. Second, since early May, the international market has seen high oil prices. Third, since the beginning of August, oil prices in the international market have oscillated downward.
"If the price of oil in the international market falls from the previous high of $120 per barrel to the current level simply from the comparison of the price at that point in time, the rate of decline has indeed exceeded 4%, but from a moving average of 22 consecutive working days, there is a The process of gradual decline has only recently reached the 4% price adjustment boundary condition, so it has been decided to appropriately reduce the prices of domestic refined oil products, according to relevant officials of the National Development and Reform Commission.
Regarding the voice that thinks that domestic oil prices are “less or less†or “faster or slowerâ€, relevant officials of the National Development and Reform Commission pointed out that since the implementation of the oil price and taxation reform plan at the end of 2008, domestic refined oil prices have undergone sixteen adjustments. Ten liters and six drops, the overall price level has risen, but this is mainly due to the rise in oil prices in the international market.
“As for the problem of “faster growth or slower growth,†there is absolutely no such thing.†The above sources stated that in the refined oil product price adjustment operation, whenever domestic oil prices need to be raised, the country should not only control the impact due to the downstream industry and inflationary pressures. The rate of price adjustment also often postpones the time for price adjustment. When the price of oil on the international market falls sharply, the country immediately cuts the price of domestic refined oil according to the drop in the international market oil price and the level of the previous price adjustment. Therefore, from the time of price adjustment operation, there is no problem of “faster growth or slower growthâ€.
Zhao Jingmin, an analyst at Business Services, pointed out that for domestic transportation and aviation logistics industries, lower oil prices mean a drop in costs, which is a big plus. At the same time, the reduction in oil prices has reduced the cost of vehicles and helped to drive car sales. However, the impact on PetroChina and Sinopec is exactly the opposite.
"Originally, with the recent decline in international oil prices, PetroChina and Sinopec's refining costs have decreased, but after the oil price reduction, the loss situation of PetroChina and PetroChina's oil refining segment will continue." Zhao Jingmin said.
On the other hand, the industry generally believes that the current price adjustment can not change the current tense situation of refined oil resources. The phenomenon of “patch and zero price†and even “up and down†will continue to exist.
“Although the retail price of domestic refined oil will inevitably fall after the price adjustment by the National Development and Reform Commission, the simultaneous decline in the wholesale price is still a variable. First, the current domestic market is still at the peak of demand, and the actual consumption of terminals is at a relatively high level. Second, domestic finished products Oil resources are still in short supply; Thirdly, social stocks are at a low level overall, and the Shaanxi provincial refining and Shandong local refining resources are mainly exported. In this case, the main unit has more pricing power.†Zhuo Chuang Information Analysts said.
In fact, the market performance on the first day of price adjustment also confirms this point. According to statistics from the Business Society, despite the normal performance of the domestic gasoline wholesale market yesterday, the wholesale price of diesel oil has already coincided with the new maximum retail price limit, which is also known as “Patch One Priceâ€, indicating that the diesel resources are still relatively tight. On the first day of the price adjustment, the atmosphere in the industry was also strong. There were fewer transactions. The main unit continued to stop and control the sale of diesel oil.
The data shows that at present, the transaction price of Shandong No. 93 petrol is mostly at 8,600 yuan/ton, and the mainstream transaction of diesel is about 8,350 yuan/ton.
"The future trend of the domestic wholesale price of refined oil still depends on the supply and demand of resources, and the price adjustment has limited effect on resource shortages," said analyst Li Hong.
According to relevant officials of the National Development and Reform Commission, according to the current pricing mechanism, domestic oil price adjustments are mainly based on changes in the prices of relevant crude oil in the international market over a period of time. In other words, when the price of a certain crude oil in the international market changes a lot on a certain day or days, the domestic finished product The price of oil may not be adjusted. Only when the average price of oil in the international market changes more than 4% for 22 consecutive working days, will the country adjust domestic refined oil prices accordingly. This is mainly to avoid drastic fluctuations in oil prices in the international market leading to domestic oil prices. Oil prices are adjusted frequently.
Since the adjustment of domestic refined oil prices on April 7 this year, oil prices in the international market have generally shown high levels of shocks. The specific trends can be roughly divided into three stages. First, in late April and early May, oil prices in the international market continued to fluctuate upward. Second, since early May, the international market has seen high oil prices. Third, since the beginning of August, oil prices in the international market have oscillated downward.
"If the price of oil in the international market falls from the previous high of $120 per barrel to the current level simply from the comparison of the price at that point in time, the rate of decline has indeed exceeded 4%, but from a moving average of 22 consecutive working days, there is a The process of gradual decline has only recently reached the 4% price adjustment boundary condition, so it has been decided to appropriately reduce the prices of domestic refined oil products, according to relevant officials of the National Development and Reform Commission.
Regarding the voice that thinks that domestic oil prices are “less or less†or “faster or slowerâ€, relevant officials of the National Development and Reform Commission pointed out that since the implementation of the oil price and taxation reform plan at the end of 2008, domestic refined oil prices have undergone sixteen adjustments. Ten liters and six drops, the overall price level has risen, but this is mainly due to the rise in oil prices in the international market.
“As for the problem of “faster growth or slower growth,†there is absolutely no such thing.†The above sources stated that in the refined oil product price adjustment operation, whenever domestic oil prices need to be raised, the country should not only control the impact due to the downstream industry and inflationary pressures. The rate of price adjustment also often postpones the time for price adjustment. When the price of oil on the international market falls sharply, the country immediately cuts the price of domestic refined oil according to the drop in the international market oil price and the level of the previous price adjustment. Therefore, from the time of price adjustment operation, there is no problem of “faster growth or slower growthâ€.
Zhao Jingmin, an analyst at Business Services, pointed out that for domestic transportation and aviation logistics industries, lower oil prices mean a drop in costs, which is a big plus. At the same time, the reduction in oil prices has reduced the cost of vehicles and helped to drive car sales. However, the impact on PetroChina and Sinopec is exactly the opposite.
"Originally, with the recent decline in international oil prices, PetroChina and Sinopec's refining costs have decreased, but after the oil price reduction, the loss situation of PetroChina and PetroChina's oil refining segment will continue." Zhao Jingmin said.
On the other hand, the industry generally believes that the current price adjustment can not change the current tense situation of refined oil resources. The phenomenon of “patch and zero price†and even “up and down†will continue to exist.
“Although the retail price of domestic refined oil will inevitably fall after the price adjustment by the National Development and Reform Commission, the simultaneous decline in the wholesale price is still a variable. First, the current domestic market is still at the peak of demand, and the actual consumption of terminals is at a relatively high level. Second, domestic finished products Oil resources are still in short supply; Thirdly, social stocks are at a low level overall, and the Shaanxi provincial refining and Shandong local refining resources are mainly exported. In this case, the main unit has more pricing power.†Zhuo Chuang Information Analysts said.
In fact, the market performance on the first day of price adjustment also confirms this point. According to statistics from the Business Society, despite the normal performance of the domestic gasoline wholesale market yesterday, the wholesale price of diesel oil has already coincided with the new maximum retail price limit, which is also known as “Patch One Priceâ€, indicating that the diesel resources are still relatively tight. On the first day of the price adjustment, the atmosphere in the industry was also strong. There were fewer transactions. The main unit continued to stop and control the sale of diesel oil.
The data shows that at present, the transaction price of Shandong No. 93 petrol is mostly at 8,600 yuan/ton, and the mainstream transaction of diesel is about 8,350 yuan/ton.
"The future trend of the domestic wholesale price of refined oil still depends on the supply and demand of resources, and the price adjustment has limited effect on resource shortages," said analyst Li Hong.
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