The oil price adjustment window opens again today or welcomes the first stranding in 2019

February 15, 2019


Since the beginning of this year, the domestic price adjustment of refined oil products has been carried out twice, all of which are raised. The total gasoline price is raised by 350 yuan/ton, and the total diesel oil is raised by 335 yuan/ton.

According to Zhuo Chuang Information, as of February 12, the comprehensive rate of change of crude oil was 1.45%, corresponding to an increase of 28 yuan/ton for gasoline and diesel. The comprehensive rate of change of crude oil measured by Longzhong Information is 1.01%, and the corresponding increase is expected to be 40 yuan/ton.

The "Measures for the Administration of Petroleum Prices" stipulates that the highest retail price of domestic gasoline and diesel is linked to international oil prices. "When the price adjustment is less than 50 yuan per ton, no adjustment will be made, and it will be added or offset when it is included in the next price adjustment."

During the current round of price adjustment, international crude oil first rose and then fell, but the change was not large. As of the close of February 12, US WTI crude oil futures closed up 0.69 US dollars, reported 53.10 US dollars / barrel. Brent crude oil futures closed up 0.91 US dollars to 62.42 US dollars / barrel.

"There are three main factors that support the rise of international crude oil. First, the positive atmosphere brought about by OPEC's production cuts; second, the United States will impose economic sanctions on Venezuela, and the supply of crude oil in Venezuela may be affected. Third, the number of oil drilling in the United States continues to decline." Li Yan, an analyst of Longzhong Information Oil, said.

Yang Xia, an analyst of Zhuo Chuang Information Oil Products, said that during the Spring Festival, the weakening of European economic data and the fact that many central banks “turned from the Eagles” jointly promoted the decline in crude oil prices. Affected by this, although the comprehensive rate of change of domestic crude oil is stable in the positive range, it is at a low level.

At present, the No. 92 gasoline in most areas of China is in the “6-yuan era”. Longzhong information data shows that the preferential policies for the retail price of petrol stations have not changed much. The preferential rate of the main stations such as Sinopec is 0.5-0.7 yuan/liter, while the preferential rate of private gas stations is 0.4-1.2 yuan/liter.