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SunSirs: Price Adjustment of Refined Oil Stranded at 24pm on October 8

October 10 2019 14:14:56     SunSirs (Selena)

As of October 8, WTI crude oil futures in the international crude oil market were trading at $52.63 per barrel, down 9.22% from September 19, while Brent crude oil futures were trading at $58.24 per barrel, down 8.25% from September 19. The change rate of crude oil in the three places was 3.45% according to the monitoring data of SunSirs. In this round of valuation cycle, international oil prices go high to low, and international oil prices are in a downward trend before and after National Day. According to the regulation of product oil price adjustment, the prices of gasoline and diesel oil are not adjusted, and the unadjusted amount is added or offset in the next price adjustment.

According to statistics, up to now, the retail price of gasoline and diesel has undergone seventeen adjustments and three strandings in the year. Among them, eleven times were up and six times were down, the cumulative increase of gasoline and diesel was 1,300 RMB/ton and 1,250 RMB/ton, while the decrease of gasoline and diesel was 885 RMB/ton and 835 RMB/ton. The three stranded periods were the valuation cycles of March 14, July 23 and October 8, respectively.

The next round of price adjustment of refined oil will be lowered.

In the new round of pricing cycle, based on the current international crude oil price level, the price adjustment of refined oil starts with a negative value and is expected to decrease by about 200 RMB/ton. At present, there are many bad news in the international crude oil market. Saudi official news says that the country's crude oil production capacity has completely recovered from the attack, and the speed of crude oil supply repair exceeds expectations. At the same time, the global economy and crude oil demand have exceeded expectations. Expectations were weak; API crude oil inventories in the United States grew faster than expected, with API crude oil inventories increased 4.13 million barrels in the week of October 4, and API Cushing area crude oil inventories increased 1.2 million barrels. It is expected that the next round of price adjustment of refined oil will be reduced.


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