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Domestic refined oil prices may rise for the sixth time this year

Domestic refined oil prices may rise for the sixth time this year

(Summary description)Due to the adjustment of the value-added tax, the domestic refined oil price just lowered this year, it may rise again on Friday.

Domestic refined oil prices may rise for the sixth time this year

(Summary description)Due to the adjustment of the value-added tax, the domestic refined oil price just lowered this year, it may rise again on Friday.

Information

  Due to the adjustment of the value-added tax, the domestic refined oil price just lowered this year, it may rise again on Friday.

 

  On April 8th, the sixth working day of the round of gasoline and diesel pricing cycles, the crude oil change rate measured by the commodity analysis agency Zhuochuang Information was 2.89%, and the gasoline and diesel prices were raised by 146 yuan / ton, equivalent to 92 # gasoline. The prices of No. 0 and No. 0 diesel increased by 0.11 yuan / liter and 0.12 yuan / liter, respectively.

 

  According to data from Longzhong Information, as of April 5, its measured crude oil change rate was 3.46%, and the corresponding increase in gasoline and diesel prices was 125 yuan / ton.

 

  Zhang Chuangyi, a product oil analyst of Zhuochuang Information, told the interface reporter that there is still four working days before the price adjustment window, and that crude oil may continue to rise in the later period. This round of domestic refined oil retail price hikes will be a high probability event.

 

  Since the beginning of this week, OPEC's favorable output reduction has continued, Venezuela's crude oil supply has contracted, economic data from Canada, China and the United States have stabilized, market expectations for energy demand have improved, and international oil prices have rebounded significantly.

 

  As of the close of April 6, Beijing time, the price of WTI crude oil futures rose 1.58% to close at US $ 63.08 / barrel; the price of London Brent crude oil futures rose 1.35% to close at US $ 70.34 / barrel.

 

  Since the end of October 2018, international oil prices have experienced a plunge and skyrocketing, and have now returned to the average level for the whole year of 2018-$ 70 / barrel.

 

  Zhuo Chuang Information crude oil analyst Li Jiawei told Interface News that the recent upward momentum of the crude oil market is sufficient, and bullish factors still dominate.

 

  "From the supply side, the daily output of Libyan crude oil increased rapidly in March, but the intensified military conflict in the country may threaten oil production; Venezuela, due to U.S. sanctions, has reduced its crude oil production to over Low since 16 years. "Li Jiawei said that from the demand side, the strong oil consumption data has eliminated concerns about slowing demand growth, and the market's optimistic expectations of the outcome of the China-US trade negotiations have also played a certain supporting role. .

 

  But oil prices are also affected by some negative factors. Li Jiawei pointed out that factors such as the increase in US crude oil inventories for two consecutive weeks, a new high in US crude oil production, and a stronger US dollar have limited the upward space for oil prices.

 

  Since 2019, domestic refined oil price adjustments have experienced five price increases and one stranded. On April 1, due to the adjustment of value-added tax, refined oil products ushered in the first downward adjustment during the year.

 

  Up to now, gasoline and diesel have increased by RMB 525 / ton this year, equivalent to a price increase of 92 yuan for gasoline with a price increase of 0.41 yuan / liter, and 0 diesel has increased by RMB 0.45 / liter.

 

  According to the calculation of the current price adjustment cycle of the domestic refined oil pricing mechanism, this round of gasoline and diesel price adjustment windows will open at 24:00 on April 12 (this Friday). (From China Energy Network)

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