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Domestic oil price adjustment window will open or welcome during the first three-day losing streak

  • Author:JAMES
  • Source:Xinhua
  • Release on:2014-08-26

Domestic oil price adjustment window will open or welcome during the first three -day
losing streak

International crude oil prices all the way down , so that domestic oil prices down
expectations is getting stronger . ""Economic Information Daily"" reporters learned from a
number of social monitoring bodies , next Monday ( September 1 ) domestic oil price
adjustment window re- opens, change the current crude oil price adjustment rate
significantly exceeds the red line , if not this week, the international crude oil futures
sustained boom , when domestic gasoline and diesel retail prices will usher in the year
the first "" three -day losing streak ."" Expectations and consumer appetite affected by
this , the current wholesale price of domestic gasoline and diesel continued to decline to
record lows for three years .

Since August 18 cut in domestic oil prices , global oil supply abundant , but weak demand
, coupled with a stronger dollar weighed on European and American crude oil futures in a
downward direction, while as of August 25 closing, the New York Mercantile Exchange,
October crude main futures contract closed at $ 93.35 a barrel, Brent crude
Intercontinental exchange's main futures contract in October closed at $ 102.65 a barrel .

Affected by this, the rate of change in domestic crude oil price shocks adjust the
reference has also been in the negative range .
Treasure Island, according to estimates, as of August 26 the sixth working day , the
reference crude oil varieties ( Brent , Brent D td, Dubai , E SPO) average price of
101.015 , the rate of change -2.46 % , corresponding to cut gasoline and diesel amplitude
of 120 yuan / ton -150 yuan / ton. And Zhuo record information monitoring data -2.59 %,
corresponding to down 160 yuan / ton.

According to "" ten working days adjusted once "" principle, the oil price adjustment window
will open on September 1 . But if gasoline and diesel prices or price range of less than
50 yuan per ton , equivalent to less than 5 cents per liter price adjustment amount , to
save social costs , retail prices temporarily adjusted to include the cumulative or offset
when the next price adjustment .
"" This week the international crude oil futures or low volatility mainly negative rate of
change rangebound , lowered expectations still , and still is expected to have dropped
hundred dollars or more ."" Treasure Island Maple Zou analysts predicted .

Zhuo record information analyst胡慧春also believes that if Europe this week, crude oil
futures continued to surge does not appear , then when the domestic oil will usher down
again, this is the first time the ""three -day losing streak "" situation during the year.
And this is a bad news for the already difficult to stop the decline in domestic gasoline
and diesel market. Zhuo record information statistics show that in 2014 31 domestic
provinces and cities, gasoline and diesel price continued to decline. Which in January
2014 -8 month compared with the average price of gasoline and diesel in 2011 fell 700 yuan
/ ton and 500 yuan / ton respectively as much .

""This year the domestic economic slowdown , eliminate backward production capacity and
increase energy conservation efforts , demand for refined products are affected, while the
domestic supply of oil resources are more abundant , Moreover , under the current pricing
mechanism , the market is extremely speculative demand suppression. many negative factors
led to the wholesale price of gasoline and diesel has been declining principal this year .
"" Huhui Chun that, for the latter , the domestic oil market is still optimistic about the
unspeakable , the traditional"" Golden September and Silver October ""market is also
difficult to see the trail , plus natural gas, coal continue to impact oil alternative
energy , in 2014 the oil market rally may be difficult .

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