In the early morning of the 9th, the price of gasoline and diesel was lowered as scheduled.
The National Development and Reform Commission informed that the national gasoline and diesel prices were lowered by 530 yuan and 510 yuan per ton, respectively, and the retail price was measured. The No. 90 gasoline and No. 0 diesel (national average) were reduced by 0.39 yuan and 0.44 yuan per liter respectively.
This is the largest price reduction of gasoline and diesel since the current formation of refined oil prices in 2009, but it is still lower than the expected decline of 600 yuan to 700 yuan / ton. Zhongyu Information analyst Sang Wei told the "First Financial Daily" that the recent oil market is in a downturn. The NDRC may consider the refining, wholesale, trade and other corporate profits to reduce the retail price of refined oil products lower than expected.
According to the reporter's understanding, on the day of the announcement of the price adjustment, the relevant person in charge of the National Development and Reform Commission held an interim briefing session indicating that the oil varieties of the international three crude oils that are linked to domestic refined oil prices are not static, and the weight of each oil product will be adjusted according to the circumstances; After adjusting the price of the international oil price and the RMB exchange rate, the price adjustment finally determined the current price cut.
Although the decline did not meet expectations, the price cut still stimulated the recovery of the refined oil market. Treasure Island, a large-scale e-commerce platform, shows that after this downgrade, refined oil traders may take action to replenish stocks, and short-term market demand may pick up, and with the advent of summer, seasonal demand for refined oil will increase. Sales in the retail segment will also grow steadily.
However, for Sinopec, PetroChina, and local private refineries, there are still many variables in the overall recovery of the market. According to Zhongyu information data monitoring, before the official price adjustment of the National Development and Reform Commission, the wholesale price of gasoline and diesel in Shandong refining has exceeded the price adjustment level. Since May 10, the average price of Shandong No. 93# gasoline has dropped by 928 yuan. / ton, 0# diesel fell by 548 yuan / ton.
Ma Yu, an analyst at Zhongyu Information, said that whether refinery sales can continue to recover in the long run, it still needs to be determined by the demand of international crude oil and domestic refined oil. If the spot price of international crude oil cannot continue to rebound, there will be a third reduction. It is expected that, in the long run, there is still doubt about whether the refined oil market will usher in a comprehensive recovery.
According to the current situation, many institutions expect that international oil prices will continue to decline, and in July, they will usher in the third consecutive price cut this year.
Zhongyu Information analyst Wang Jintao also said that the spot price of international crude oil is far lower than the average price of 22 days. Based on the current trend of crude oil, the rate of change of the three places will reach the "-4%" condition again in the second half of June. Red line, so the retail price of domestic refined oil in the first half of July is likely to be lowered again.
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