The domestic refined oil price adjustment window will open at 24:00 on July 29th. The retail price of refined oil will not be adjusted for the time being. In 2025, the retail price of refined oil has experienced six upward adjustments, six downward adjustments, and two grounding. The crude oil market trend has been mainly volatile during this cycle, with negative crude oil change rates running at low levels. The retail price adjustment of refined oil in 2025 has encountered a "third grounding".

Entering this pricing cycle, the international oil price market is mainly volatile. As of the 28th, the settlement price of the main contract for WTI crude oil futures in the United States was $66.71 per barrel, and the settlement price of the main contract for Brent crude oil futures was $70.04 per barrel. During this round of price adjustment cycle, crude oil prices have mainly fluctuated. On the one hand, OPEC+ is likely to complete its 2.2 million barrels per day production increase plan before the end of September. In addition, with the trade agreement reached between the United States and Japan, the international oil market trend has fallen slightly due to this news; On the other hand, there are still concerns in the market about the tariff negotiations between the United States and Europe, as well as factors such as the Middle East issue and disturbances in the European situation, causing the crude oil market to maintain a volatile trend. As of the 29th, the change rate of crude oil varieties on the tenth working day is -0.65%, corresponding to an expected reduction of 25 RMB/ton for domestic gasoline and diesel, which has not reached the international adjustment red line. Therefore, the retail price of refined oil products will not be adjusted for this round.

In terms of gasoline, there has been little change in the operating rate of local refineries recently. The average operating rate of local refineries in Shandong is around 52%, while the operating rate of major refineries nationwide has risen to around 84%. The supply of refined oil from local refineries has slightly increased. Recently, residents' travel and other activities have been normal, and coupled with the recent fluctuations in the crude oil market, the wait-and-see atmosphere in the domestic gasoline market has intensified, resulting in further setbacks in transactions. In addition, the continuous penetration of new energy vehicles has had a certain impact on gasoline demand, and the gasoline market has not changed much.

In terms of diesel: Recently, the supply side of the diesel market has slightly increased, while the demand side has weakened due to the increase in rainy weather. The summer harvest has gradually ended, and agricultural oil consumption has decreased compared to before. However, diesel inventory pressure is not high, and infrastructure and logistics are relatively normal. The trend of the diesel oil market has slightly declined.

Recently, both long and short factors have jointly affected the traditional fuel consumption peak season in the United States, and supply side risks have not been eliminated. International oil prices are expected to remain volatile in the short term, which will provide some cost support for the domestic refined oil market. Domestically, the short-term refinery operating rate has increased, the supply of refined oil products is loose, and the demand for gasoline is relatively normal, resulting in mainly volatile gasoline market prices; The demand for diesel has declined compared to before, and diesel prices may slightly decrease in the later period.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.