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Domestic Refined Oil Price Adjustment Window Opened Today Or Hit The Biggest Decline In Nearly Six Months
Feb 28, 2018

China's new round of refined oil price adjustment window will be opened at 24 o'clock on the February 28, the agency predicted oil prices will be lowered, or refresh the biggest decline since July 2017 record.

In the new round of valuation cycles, the international crude oil prices rebounded after falling, however, the rate of change was still negative. According to Longzhong information estimates, refined oil price adjustment window is opened, the corresponding reduction rate or at 180 yuan -200 yuan / ton. Zhuo Chong estimates the corresponding reduction rate of 193 yuan / ton.

"This refined oil price adjustment or refresh the biggest decline since July 2017 records, consumer travel costs continue to decline." Zhu Ting Ting Zhuo information analyst said.

Up to now, the price adjustment of domestic refined oil has been carried out three times in 2018, the total increase of gasoline by 75 yuan / ton and the total diesel oil by 75 yuan / ton.

If this cut is realized, it will be the first time that domestic oil prices will fall for two consecutive years. The last cut was on February 9, the domestic gasoline price dropped 170 yuan per ton, diesel price 160 yuan per ton down.

Retail point of view, the current Beijing Petrochemical gas station 92 gasoline and 95 gasoline prices were 6.90 yuan / liter and 7.34 yuan / liter. Long Yan information oil analyst Li Yan pointed out that the festive atmosphere of the Spring Festival survived, around the gas station's preferential policies remained stable. Sinopec and other main station discount rate of more than 0.5 yuan -0.7 yuan / liter or so, and private gas stations in the discount rate of 0.5 yuan -1.2 yuan / liter.

The next price adjustment window will open at 2400 hours on March 14, 2018. Li Yan said that for the moment the supportive atmosphere at the bottom of international oil prices has been enhanced. It is estimated that the price adjustment of refined oil products in the next round may increase or stranded.