China News Service, Beijing, December 3 (reporter Pang Wuji) Oil prices in China fell the most in 20 months.
China’s National Development and Reform Commission (NDRC) said Wednesday that the price of gasoline and diesel will be cut by 430 yuan and 415 yuan per ton, respectively, starting at 24:00 On Wednesday, according to the current pricing mechanism of refined oil products, based on recent changes in international oil prices.
Equivalent to the price increase, the national average, 92 gasoline, 95 gasoline and 0 diesel decreased by 0.34 yuan, 0.36 yuan and 0.35 yuan per liter respectively.
This is the fifth time this year that finished oil prices have fallen. The price drop is the biggest in 20 months since March 17, 2020.
After the implementation of this adjustment policy, consumers’ oil costs fell again. Xu Na, a refined oil analyst at Zhuochuang Information, said a family sedan with a 50L fuel tank, for example, costs 17 yuan less to fill a tank of No. 92 gasoline and 18 yuan less to fill a tank of No. 95 gasoline.
In terms of fuel consumption, taking a small private car running 2,000 kilometers per month and consuming 8L of fuel per 100 kilometers as an example, consumers’ fuel costs will drop by about 25.4 yuan before the next price adjustment window opens (24 o ‘clock on December 17, 2021).
In the logistics industry, taking the steyr heavy truck with a monthly run of 10,000 kilometers and a 100-kilometer fuel consumption of 38L as an example, the fuel cost of a single vehicle will be reduced by about 620.7 yuan before the next price adjustment window opens.
Analyzing the reasons for the oil price decline, Xu na pointed out that the recent worsening of the epidemic in Europe and the news of the Novel Coronavirus variant in South Africa have caused worries about the future oil demand, and the oil price once dropped more than 10% in a single day. Affected by this, the change rate of crude oil is in a negative range, and the downward trend is gradually established.
Looking ahead, Dai Tiandong, an oil product analyst at Zoc International, pointed out that the market is paying attention to the transmission of novel Coronavirus variant, and the international oil price may fluctuate widely at the bottom. According to zoc International, the initial change rate of the new cycle may start with a negative value, and there is a possibility of “three consecutive drops” in oil prices.
Since the beginning of this year, China’s refined oil retail price ceiling has gone through 23 adjustment Windows, including 14 increases, 5 drops and 4 stranding. Standard gasoline, diesel oil in the year respectively accumulative increase of 1475 yuan, 1420 yuan, equivalent to the price of 92 gasoline per liter accumulative increase of 1.16 yuan, 95 gasoline per liter accumulative increase of 1.22 yuan, 0 diesel oil per liter accumulative increase of 1.21 yuan.
Compared with the beginning of the year, consumers have to pay 58 yuan more for a 50L tank of No. 92 and 61 yuan more for no. 95. (after)