Everyone who drives is in luck again, because we learned from the National Development and Reform Commission that a new round of refined oil price adjustment window will open at 24:00 on September 18. The price of gasoline will be reduced by 315 yuan per ton, and the price of diesel will be reduced by 300 yuan per ton. On a national average: No. 92 gasoline will be reduced by 0.25 yuan per liter; No. 95 gasoline will be reduced by 0.26 yuan per liter; No. 0 diesel will be reduced by 0.26 yuan per liter. Based on the estimated capacity of a typical household car fuel tank of 50L, filling up a tank of No. 92 gasoline will cost you 12.5 yuan less. ?
In fact, few people know the rules of domestic oil price adjustment and think that it changes every day according to the market conditions. In fact, the oil price adjustment rules of our country are as follows: the adjustment cycle of refined oil is 10 working days. In other words, the oil price adjustment window opens once every ten working days, and the working days do not include Saturdays, Sundays and statutory holidays. 24:00 on September 18 is the date for the oil price adjustment in 2020. Whether oil prices rise or fall depends on several reasons:
1. Influence of international market conditions
Due to the impact of many countries and The epidemic has rebounded in the region, and the recovery of global oil demand has once again been shrouded in clouds. The sharp decline in international oil prices has caused Brent crude oil futures and WTI crude oil futures prices to fall below 40 US dollars per barrel. At 24:00 on September 18, 7 working days before the refined oil price adjustment window will open again, the crude oil change rate is -9.25%. The September "Oil Market Monthly Report" released by the International Energy Agency also lowered its 2020 oil demand forecast. The International Energy Agency predicts that global average daily oil demand in 2020 will be 91.7 million barrels, which means a decrease of 8.4 million barrels from the same period last year and a decrease of 300,000 barrels from the August "Oil Market Monthly Report". Anyone who has studied simple economics can see that when demand is low, prices will naturally fall. Before the price adjustment window for China's refined oil products opened, international crude oil prices had already fallen below the floor price of US$40. This performance is enough to show how sluggish demand is.
2. The impact of domestic market conditions
I don’t know if you have this impression. In the past, every time it was said that oil prices were going to rise or fall, there were many cars queuing up at gas stations to refuel. Some even queued up until midnight. To be honest, I have done such silly things before. But for this reduction, consumers are obviously not as enthusiastic as before. What does this mean? It shows that our domestic demand is also declining.
This price adjustment is the fourth drop in the domestic refined oil price adjustment window in 2020. The price of gasoline has been reduced by 1,860 yuan per ton, and the price of diesel has been reduced by 1,790 yuan per ton. This is also the largest drop in domestic oil prices since March 17 this year. The reduction at that time was the largest drop since the implementation of the new refined oil price mechanism in 2013. After this oil price drop, the average price of 95-octane gasoline in most areas across the country has returned to the "5 yuan era". Even so, there is no so-called queue for refueling.
To sum up it is very simple, supply exceeds demand and prices fall. Supply is less than demand and prices rise. However, for our country, we must also ensure the safety of strategic oil resources in accordance with the relevant national energy safety regulations. If the price of refined oil follows the international oil price, it will easily cause huge losses to domestic oil exploration companies, and eventually the oil wells will be shut down. Once the price rebounds rapidly, the shut down oil wells will not be able to resume production immediately, which will seriously threaten our country's energy security.
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