Domestic oil prices may rise for the first time in 2021. According to the agency’s forecast, at 24:00 on January 15, the retail price limit rate of domestic refined oil products will rise, accumulating the price adjustment at the end of 2020. After the implementation of this price adjustment, it will be the first “five consecutive rises” since the implementation of the current price adjustment mechanism in 2013.
Recently, the good news of the crude oil market has stimulated the fluctuation of international oil prices. In the week ending January 1, 2021, U.S. crude oil commercial inventories dropped by 8 million barrels, the largest decline since August 2020, exceeding the market’s expected decline of 2.1 million barrels. In addition, OPEC and its production reduction allies agreed to maintain their daily output of crude oil in February and March, while Saudi Arabia reduced its daily output by an additional 1 million barrels, boosting market confidence.
Bian Wenjing, a refined oil analyst at jinlianchuang, said that according to the principle of one price adjustment cycle of “ten working days”, the retail price of gasoline and diesel is expected to rise in the range of 160-180 yuan / ton. After the implementation of the domestic oil price increase, it will be the fifth consecutive increase since 24:00 on November 19, 2020.
Zhuo Chuang information analyst Xu Na told chinanews.com: “at present, the price of 92 gasoline in most areas of China is concentrated in 5.84-5.95 yuan / L. after the implementation of the oil price increase, the price of 92 gasoline in most areas will return to the” 6 Yuan era “.
According to Li Yan, an analyst of Longzhong information, in 2020, the price of domestic refined oil will be adjusted, with a total reduction of 1295 yuan / ton for gasoline and 1250 yuan / ton for diesel. This round is the first price adjustment in the new year, and the next round of price adjustment window will be opened at 24:00 on January 29, 2021. Recently, favorable factors in the international crude oil market have prevailed, and it is expected that the next round of price adjustment of refined oil will be more likely to increase. (Zhang Xu)
(editor in chief: e Zhichao, Lian pinjie)
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