The sixth drop in oil prices this year! According to the website of the National Development and Reform Commission, domestic refined oil prices will be lowered according to a mechanism starting from 24:00 on June 13th. The National Development and Reform Commission stated that based on recent changes in international market oil prices and the current mechanism for pricing refined oil products, starting from 24:00 on June 13, 2023, the prices of domestic gasoline and diesel (standard products, the same below) will be reduced by 55 yuan and 50 yuan per ton, respectively. After this price adjustment, based on the estimated 50L capacity of a typical household car fuel tank, filling a box of 92 gasoline will cost 2 yuan less. Zhongxin Jingwei has noticed that prior to this, domestic refined oil products have undergone 11 rounds of adjustments this year, with cumulative price reductions of 70 yuan/ton for both gasoline and diesel. After this round of price adjustment, the price adjustment situation in 2023 will become "four rises, six falls, and two stalls". According to the principle of ten working days, the next round of price adjustment window will open at 24:00 on June 28th. Li Yan, an analyst at Longzhong Information, said that based on the current international crude oil price level, the next round of product oil price adjustment will show a downward trend at the beginning. At present, although the recent performance of oil prices has been relatively weak, the summer travel peak in the United States has arrived, and OPEC+is firmly promoting production reduction. The positive fundamentals are still expected to highlight in the future market, and it is expected that the next round of product oil price adjustment will have a high probability of being stranded. According to analysis by Zhuochuang Information, due to market concerns about the ongoing risk of economic recession, bulls are cautious in facing positive supply side performance, and the short-term downward risk of oil price pressure remains significant. According to the current crude oil price calculation, the initial rate of change of the next round of price adjustment is running at a negative value, and the retail price limit of gasoline and diesel is expected to fall for two consecutive times. Jin Lianchuang analyst Ma Jiancai also believes that due to the continuous sharp decline in international oil prices, the rate of change will start with a broad negative trend after entering a new pricing cycle. The first working day after the price adjustment is expected to have a range of -4.4%, corresponding to a decrease in gasoline and diesel prices of around 250 yuan/ton. In the later stage, international oil prices may moderate a correction, but the bearish factors are difficult to eliminate in the short term, and the probability of a new round of retail price reduction is still high. (New News Agency)
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic view
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