Domestic refined oil price adjustment for the first time in the year stranded
Due to the reduction of less than 50 yuan/ton, domestic refined oil prices stranded for the first time this year.
On March 14, the National Development and Reform Commission website announced that according to the current domestic refined oil price mechanism, the average price of the first ten working days of March 14, compared with the average price of the first ten working days of February 28, the adjusted amount per ton Less than 50 yuan, the price of gasoline and diesel will not be adjusted this time, and the unadjusted amount will be included in the next price adjustment to accumulate or offset.
Commodity information agency Zhuo Chuang Information refined oil analyst Jia Tingting told the interface news reporter that in this cycle, Saudi Arabia's production cuts and U.S. sanctions against Venezuela are still good, but the market is also full of concerns about weak economic growth expectations, multi-party news intertwined, resulting in the pricing cycle of international oil prices showed a volatile trend.
Jia Tingting said that affected by this, the domestic reference crude oil change rate is running within a negative value. As of the close of trading on March 13, Zhuochuang's estimated crude oil change rate was -0.31%, corresponding to a reduction of 15 yuan/ton in gasoline and diesel prices, which did not touch the red line of 50 yuan/ton.
This is also the first time that domestic refined oil products have been stranded in 2019.
Entering 2019, international oil prices have changed from the decline at the end of last year and ushered in a wave of "four consecutive rises". During the period, the cumulative increase of gasoline and diesel reached 670 yuan/ton and 645 yuan/ton respectively, equivalent to the increase of No. 92 gasoline rose by 0.53 yuan/liter, and No. 0 diesel rose by 0.55 yuan/liter.
Looking back at the current pricing cycle, OPEC's production reduction agreement has been effectively implemented and is expected to continue until the end of the year. The weak global economy in the early period has improved. In addition, the geopolitical crisis caused by the political turmoil in Venezuela has brought upward momentum to the crude oil market.
As of the close of trading on March 14, Beijing time, WTI crude oil futures prices closed at $58.26/barrel, an increase of 2.44; Brent crude oil futures prices closed at $67.55/barrel, an increase of 1.32.
For the next round of price adjustment, Jia Tingting said that EIA lowered the growth rate of US crude oil production, US crude oil production also dropped from a high level, and OPEC's efficient production reduction will continue to push up oil prices. "The recalculated rate of change of crude oil or into a positive range, the next round of domestic refined oil will face the possibility of upward adjustment." Jia Tingting said. (From China Energy Network)