Fifth up in the year! Domestic oil price will be increased to fill up one box or spend 5.5 yuan more

category:Finance
 Fifth up in the year! Domestic oil price will be increased to fill up one box or spend 5.5 yuan more


Novel coronavirus pneumonia continues to continue in November 17th, according to Reuters Chinese News Network November 17th. A new OPEC+ outbreak is still under way. In support of oil prices, OPEC and its allies, including Russia, are inclined to postpone the next second months of January for at least another month. It was previously reported in October that Saudi Arabia and other oil producing countries had discussed this.

It is reported that OPEC + plans to increase oil production by 2 million barrels / day from January next year, accounting for about 2% of global consumption. However, with the weakening of fuel demand, OPEC + has been considering delaying production increase or even further reducing production. Algeria, which currently holds the rotating chair of OPEC, supports the extension of the existing production reduction scale, while Saudi Arabia, the largest exporter, said that the OPEC + production reduction agreement may be fine tuned.

The Algerian Energy Minister said at an industry event recently that OPEC + may extend the current production reduction plan to 2021 or further increase the intensity of production reduction if market conditions require it.

Domestic oil prices are up by about the fifth in the year

According to the statistics of China Singapore Jingwei client, since this year, the domestic refined oil price has been adjusted 21 times, including 12 times of grounding, 5 times of reduction and 4 times of increase. The cumulative reduction of gasoline price is 1940 yuan / ton, and the cumulative reduction of diesel price is 1870 yuan / ton.

If the expected increase is realized, it will be the fifth increase in the year. In 2020, the price adjustment of domestic oil products will be in the pattern of five rises, five falls and twelve stalls. According to Jin Lianchuangs calculation, as of the ninth working day on November 18, the average price of reference crude oil varieties was 42.46 US dollars / barrel, with a change rate of 5.44%. The corresponding retail price of gasoline and diesel oil should be increased by 140 yuan / ton.

Zhongyu also predicted that, as of November 18, on the 9th working day of this round, the crude oil price was 41.511, 2.84 or 7.34% higher than the benchmark price, with a corresponding range of 140 yuan / ton. It is tentatively estimated that the retail price limit of refined oil will be increased by 140 yuan / ton at 24:00 on November 19.

Zhongyu information pointed out that the travel cost of car owners will also increase significantly. According to the current published range, it is estimated that a full tank of gasoline will cost 5.5 yuan more for private cars based on the capacity of 50L of ordinary fuel tank.

In terms of retail, Longzhong information said that at present, the prices of 92% and 95% gasoline at Sinopec gas stations in Shandong are 5.41 yuan / L and 5.81 yuan / L respectively. This round of retail price increase may be around 0.11 yuan / L. private owners can fill up their fuel tanks before this Friday. In terms of gas station retail, the preferential policies are still continuing, and there are great differences among different regions. The retail price of gasoline in private gas stations is 0.4-0.6 yuan / L lower than that of main gas stations, and the preferential power of some stations can reach 1.2-1.3 yuan / L during the activities. According to the principle of ten working days, the next round of price adjustment window for domestic refined oil is 24:00 on December 3. Li Yan, an oil analyst with Longzhong information, predicts that the international crude oil market will be more likely to rise in the next round of refined oil price adjustment, supported by the favorable support of OPEC + which may delay the current production reduction. Source: surging news editor: Chen Hequn_ NB12679

In terms of retail, Longzhong information said that at present, the prices of 92% and 95% gasoline at Sinopec gas stations in Shandong are 5.41 yuan / L and 5.81 yuan / L respectively. This round of retail price increase may be around 0.11 yuan / L. private owners can fill up their fuel tanks before this Friday. In terms of gas station retail, the preferential policies are still continuing, and there are great differences among different regions. The retail price of gasoline in private gas stations is 0.4-0.6 yuan / L lower than that of main gas stations, and the preferential power of some stations can reach 1.2-1.3 yuan / L during the activities.

According to the principle of ten working days, the next round of price adjustment window for domestic refined oil is 24:00 on December 3. Li Yan, an oil analyst with Longzhong information, predicts that the international crude oil market will be more likely to rise in the next round of refined oil price adjustment, supported by the favorable support of OPEC + which may delay the current production reduction.