[YesAuto News] A few days ago, the National Development and Reform Commission announced that from 24:00 on October 21, a new round of refined oil price adjustment window will be opened: gasoline will be reduced by 150 yuan per ton, and diesel will be reduced by 145 yuan per ton, of which 92 gasoline will be reduced by 0.12 per liter. Yuan, No. 95 gasoline will be reduced by 0.12 Yuan per liter, and No. 0 diesel will be lowered by 0.12 Yuan per liter. According to the estimation of the 50L capacity of the general family car fuel tank, a full tank of 92 gasoline will save 6 yuan.
Increased U.S. crude oil inventories push oil prices down
The continued increase in US crude oil inventories and poor economic data from major economies are the main reasons for the decline in oil prices in this round of price adjustment cycles. US Energy Information Administration data show that as of October 11, US crude oil inventories reached their highest point in nearly three months, an increase of 4.40% over the same period last year. At the same time, the recent weak economic data released by major economies has deepened market concerns about the prospects for crude oil demand. Among them, the US retail sales in September fell for the first time in eight months, and the manufacturing output value fell for the second time in the past three months. On average, the London Brent and New York WTI crude oil prices were US$59.22 and US$53.44 per barrel, respectively, down 3.48% and 3.77% from the previous price adjustment cycle.
Global economic growth is expected to slow down, oil prices will fluctuate in the short term
The Price Monitoring Center of the National Development and Reform Commission predicts that the current crude oil supply is relatively loose, but the expected slowdown in global economic growth makes market confidence very fragile, and news factors will still affect short-term oil price shocks. On the one hand, the geopolitical tension in the Middle East has eased, which has alleviated the market's concerns about regional crude oil production. The development of the situation still needs to be paid attention to in the later period. On the other hand, the International Monetary Fund predicts that the global economic growth rate will drop to 3% this year, which is lower than the 3.2% forecast in July. The slowdown in economic growth prompted major oil institutions such as the U.S. Energy Information Administration, OPEC, and the International Energy Agency to lower the growth rate of global crude oil demand. On the whole, short-term oil prices will continue to fluctuate mainly. (Source: CCTV Finance/National Development and Reform Commission; Compilation/Car Home Li Na)