[YesAuto News] A few days ago, the National Development and Reform Commission announced that as of May 27, the average price of crude oil on the international market for which domestic refined oil prices were linked was less than US$40 per barrel in the first 10 working days. In accordance with the relevant provisions of the “Oil Price Management Measures” and the “Administrative Measures for the Collection of Oil Price Regulation Risk Reserves”, the prices of gasoline and diesel will not be adjusted this time, and all unadjusted amounts will be included in the oil price regulation risk reserve and turned over to the Central Treasury in full.
This round of price adjustments is the tenth price adjustment during the year. After this round of price adjustments, the price adjustments of refined oil products during the year showed a pattern of “zero rises, three falls, and seven strands.” Since the beginning of this year, domestic gasoline prices have fallen by 1,850 yuan/ton, and diesel prices have fallen by 1,780 yuan/ton. The price of car diesel in most areas of the country is about 5.5-5.6 yuan/liter, and the retail price of 92# gasoline is about 5.4-5.5 yuan/liter. The retail price limit has not been adjusted, but gas stations in various places have introduced different degrees of preferential policies. In some areas, the price of gasoline at private gas stations will be lower than that of state-owned ones. Under the continuing impact of the epidemic, there is unlikely to be room for significant increases in international oil prices. It is expected that the next round of price adjustments will not be adjusted. According to the calculation of the adjustment cycle of the current domestic refined oil pricing mechanism, a new round of gasoline and diesel price adjustment window will be opened at 24:00 on June 11.
Zheng Mingya, a refined oil analyst at Zhuo Chuang Information, said that the contradiction between supply and demand in the crude oil market has been effectively reconciled, but the epidemic will drag down global crude oil demand in the later stage, and there is a moderate correction expectation for crude oil in the short term. “Even if the increase is relatively limited due to positive factors in the short term, the average price of crude oil in the new round is still less than US$40/barrel.” Zheng Mingya predicts that the next round of refined oil retail prices will likely not be adjusted. (Part of the source: Jiemian News; Compiler/Autohome Li Ziwei)