Refined oil prices will be adjusted downward by RMB 200 per ton or down
On July 6, the rate of change of oil prices in Brent, Dubai, and Xinta reached -3.92%, which was close to the sensitive area of ​​price adjustment. On the 7th, however, international oil prices rebounded and rebounded due to favorable conditions. At the close, the New York Mercantile Exchange's Light crude oil futures for August delivery rose $2.09 to settle at $74.07 a barrel. The London market Brent crude oil futures rose 2.06 US dollars to close at 73.51 US dollars a barrel. In spite of this, many domestic institutions have analyzed that the recent trend of international oil prices is likely to trigger the downward adjustment of domestic refined oil retail prices. The industry expects that the refined oil price may be reduced by RMB 200-250 per ton. According to Dow Jones Newswires, if the reduction is calculated at 250 yuan/ton, it is equivalent to reducing the maximum average retail price of gasoline and diesel from the current level of RMB7,990/ton and RMB7,260/ton respectively by more than 3%. In addition, the refined oil reduction window is in the background of the continuous appreciation of the renminbi. Chen Ching, an analyst at Infosys, told the media that the continued appreciation of the renminbi will reduce the price of raw materials, which will increase the downward adjustment of refined oil prices. If the National Development and Reform Commission takes this into account, the reduction rate may increase. The exchange rate of the renminbi against the US dollar has now been raised from 6.82-6.83 to 6.77-6.78. The latest price adjustment in China was on June 1, when the prices of gasoline and diesel were lowered by 230 yuan and 220 yuan per ton respectively. According to the "Oil Prices Management Measures (Trial)", when the average price of crude oil in the international market changes more than 4% for 22 consecutive working days, the NDRC can adjust domestic refined oil prices accordingly. Wuxi Changchen Technology Co., Ltd , https://www.wxchangchen.com