Bitauto News on November 21, according to the recent changes in oil prices in the international market, and in accordance with the current refined oil price formation mechanism, starting from 24:00 on November 21, 2022, domestic gasoline and diesel prices per ton Reduced by 175 yuan and 165 yuan respectively.

On a national average, No. 92 gasoline has been reduced by 0.14 yuan; No. 95 gasoline has been reduced by 0.15 yuan; No. 0 diesel has been reduced by 0.14 yuan. If we estimate the capacity of a typical household car fuel tank at 50L, filling up a tank of No. 92 gasoline will cost you 7 yuan less.

During the price adjustment cycle, the U.S. dollar index fell from its high point, with an average decrease of 3.09% compared with the previous cycle. This boosted the price of crude oil priced in U.S. dollars to a certain extent. However, the market was concerned about the decline in the growth rate of the global economy and crude oil demand. Concerns have risen again, putting pressure on oil prices to fall. The Federal Reserve said that in order to curb inflation, the possibility of further raising interest rates in December still exists. The market is once again worried that "aggressive interest rate hikes" may lead to a slowdown in global economic growth, thereby suppressing demand for crude oil. The International Monetary Fund said that global economic growth is facing multiple adverse factors, and the slowdown in growth has become increasingly obvious. OPEC's monthly report predicts that global crude oil demand growth will be 2.55 million barrels/day and 2.24 million barrels/day this year and next, respectively, which is 100,000 barrels/day lower than the previous month's forecast. This is OPEC's fifth downward revision since April. Expectations for global crude oil demand growth this year. In addition, the increase in U.S. gasoline inventories also weighed on crude oil prices. On average, London Brent and New York WTI oil prices in this price adjustment cycle fell by 2.23% and 2.09% respectively compared with the previous price adjustment cycle.

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