After more than four months of silence, domestic refined oil prices have risen again. However, the inexplicable price increase under the background of such a high inflation risk does not reflect the link with international oil prices, and it also attracts numerous criticisms.
"The increase in oil prices is almost irrelevant to the international oil prices, but mainly the two major oil companies have been limited diesel shipments in the near future, resulting in a comprehensive shortage of domestic diesel, which indirectly affected the government's decision-making, and ultimately achieved the purpose of pushing prices." A private oil company official told reporters.
The two giants limited production prices. "This time, the refined oil price increase is not in line with international oil prices. The international oil prices have been relatively stable recently," said Chen Fengying, head of the Institute of World Economy at the China Institute of Contemporary International Relations.
On October 26, the National Development and Reform Commission issued a notice that since midnight on that day, China’s gasoline price has increased by 230 yuan per ton and diesel price has increased by 220 yuan per ton. Correspondingly, gasoline has risen by 0.17 yuan per litre, and diesel has risen per liter. 0.19 yuan. The NDRC said that after this adjustment, the price of crude oil corresponding to refined oil prices is still lower than the current level of crude oil in the international market.
This time, the increase in oil prices has further challenged the pricing mechanism of oil products that have been opaque.
“International oil prices have not broken through 85 US dollars/barrel, and the previous decline has reached 4%. The NDRC has not lowered oil prices. Just recently, the NDRC could not wait to increase the prices of domestic refined oil products. It is not in accordance with the refined oil products. The pricing mechanism is said to be indirectly linked to international oil prices,†said a private oil company source.
The person also told reporters that the NDRC's price adjustment may be due to the recent diesel tension that has continued for some time.
Recently, the domestic diesel market has experienced a serious shortage of supply, and there have been queues for fueling.
“Actually, that was the controlled sales of diesel oil by the two major oil companies. As a result, the supply of refined oil products was in short supply, and prices have recently remained high.†The above-mentioned person in charge of private enterprises told reporters that the actual amount of diesel fuel in the society is not Not nervous, the supply of gasoline resources is abundant.
A local oil refining company under the local oil refinery also told reporters that as the country raises oil prices, oil companies and traders who are expected to go up for goods in the earlier period will certainly have to increase the amount of refined oil produced in the market. The trend of tight supply of diesel oil will soon Get eased.
The beneficiaries of the pricing mechanism have emerged and the current government has made the people feel that the oil pricing mechanism is inexplicable. The biggest beneficiaries are PetroChina and Sinopec.
According to report, the current domestic major gas stations have already raised the retail price of refined oil to the maximum price, and the two main units of PetroChina and Sinopec have reached the target price.
PetroChina and Sinopec’s first-half financial report showed that the two major oil companies continued to surge in performance under the backdrop of the sluggish global oil industry, and profits continued to soar. As of June 30, CNPC achieved a net profit of 65.33 billion yuan, a year-on-year increase of 29.4%. Sinopec’s interim results announcement also showed that the company’s first-half net profit was *** 35.4 billion yuan, a year-on-year increase of 6.7%.
“The two major oil companies have benefited from the pricing mechanism for refined oil products. Under the current pricing mechanism for refined oil products, whether the international oil price rises or falls, the two major oil companies are profitable, and often the international oil prices have risen. High, the higher the profit of the two major oil companies, said the person in charge of the above-mentioned private oil companies.
It is worth noting that in the face of rising refined oil prices, most private gas stations and foreign gas stations have not followed the prices of the two major oil companies in order to compete for market share. In the Beijing market, the price of 93# gasoline for individual private gas stations is as low as RMB 6.20 per liter and RMB 0.72 per liter is cheaper.
The person in charge of the above-mentioned private oil company in Guangzhou also told reporters that there have been many private gas stations in Guangzhou that offer discounted promotions, and that only diesel oil shortages are basically not much of a preferential rate. The preferential rate of gasoline is 0.05 to 0.4 yuan per liter. “At the same time, the recent increase in the smuggling of diesel and non-standard diesel at low prices shows that the domestic refined oil market is still profitable before it is adjusted,†the source said.
Development and Reform Commission in the face of the “尴尬†dispute Development and Reform Commission caused a wide-ranging controversy in the price adjustment is that China is currently in the context of inflationary pressure, the rise in refined oil prices will undoubtedly increase this pressure to a greater extent.
According to data from the National Bureau of Statistics, China’s CPI increased by 3.6% in September, exceeding the warning line set at the beginning of the year by 3%. China’s inflationary pressure is huge, and refined oil, as one of the ultimate basic production materials, will increase its price. It will trigger a series of chain reactions involving multiple industries.
For questioning, the NDRC also said that it intends to further improve the refined oil pricing mechanism on the basis of fully listening to the opinions of all parties and that a more transparent new product oil pricing mechanism will be introduced within the year.
Lin Boqiang, director of the China Energy Economic Research Center at Xiamen University, suggested that the period for adjusting refined oil prices and the extent of each adjustment should be adjusted from the current 22 days and 4% to 14 days and 3%.
“This can reduce the hysteresis effect in the process of transmission of oil prices, making domestic oil prices more timely reflect the changes in the supply and demand relations in the domestic market, consumer structure, etc. And from the possible impact, the adjusted results are beneficial to all parties. : For the government, it can reduce speculation and avoid public dissatisfaction, but also conducive to the transition to market pricing; for companies, can make the domestic oil prices closer to the international oil prices."
"The increase in oil prices is almost irrelevant to the international oil prices, but mainly the two major oil companies have been limited diesel shipments in the near future, resulting in a comprehensive shortage of domestic diesel, which indirectly affected the government's decision-making, and ultimately achieved the purpose of pushing prices." A private oil company official told reporters.
The two giants limited production prices. "This time, the refined oil price increase is not in line with international oil prices. The international oil prices have been relatively stable recently," said Chen Fengying, head of the Institute of World Economy at the China Institute of Contemporary International Relations.
On October 26, the National Development and Reform Commission issued a notice that since midnight on that day, China’s gasoline price has increased by 230 yuan per ton and diesel price has increased by 220 yuan per ton. Correspondingly, gasoline has risen by 0.17 yuan per litre, and diesel has risen per liter. 0.19 yuan. The NDRC said that after this adjustment, the price of crude oil corresponding to refined oil prices is still lower than the current level of crude oil in the international market.
This time, the increase in oil prices has further challenged the pricing mechanism of oil products that have been opaque.
“International oil prices have not broken through 85 US dollars/barrel, and the previous decline has reached 4%. The NDRC has not lowered oil prices. Just recently, the NDRC could not wait to increase the prices of domestic refined oil products. It is not in accordance with the refined oil products. The pricing mechanism is said to be indirectly linked to international oil prices,†said a private oil company source.
The person also told reporters that the NDRC's price adjustment may be due to the recent diesel tension that has continued for some time.
Recently, the domestic diesel market has experienced a serious shortage of supply, and there have been queues for fueling.
“Actually, that was the controlled sales of diesel oil by the two major oil companies. As a result, the supply of refined oil products was in short supply, and prices have recently remained high.†The above-mentioned person in charge of private enterprises told reporters that the actual amount of diesel fuel in the society is not Not nervous, the supply of gasoline resources is abundant.
A local oil refining company under the local oil refinery also told reporters that as the country raises oil prices, oil companies and traders who are expected to go up for goods in the earlier period will certainly have to increase the amount of refined oil produced in the market. The trend of tight supply of diesel oil will soon Get eased.
The beneficiaries of the pricing mechanism have emerged and the current government has made the people feel that the oil pricing mechanism is inexplicable. The biggest beneficiaries are PetroChina and Sinopec.
According to report, the current domestic major gas stations have already raised the retail price of refined oil to the maximum price, and the two main units of PetroChina and Sinopec have reached the target price.
PetroChina and Sinopec’s first-half financial report showed that the two major oil companies continued to surge in performance under the backdrop of the sluggish global oil industry, and profits continued to soar. As of June 30, CNPC achieved a net profit of 65.33 billion yuan, a year-on-year increase of 29.4%. Sinopec’s interim results announcement also showed that the company’s first-half net profit was *** 35.4 billion yuan, a year-on-year increase of 6.7%.
“The two major oil companies have benefited from the pricing mechanism for refined oil products. Under the current pricing mechanism for refined oil products, whether the international oil price rises or falls, the two major oil companies are profitable, and often the international oil prices have risen. High, the higher the profit of the two major oil companies, said the person in charge of the above-mentioned private oil companies.
It is worth noting that in the face of rising refined oil prices, most private gas stations and foreign gas stations have not followed the prices of the two major oil companies in order to compete for market share. In the Beijing market, the price of 93# gasoline for individual private gas stations is as low as RMB 6.20 per liter and RMB 0.72 per liter is cheaper.
The person in charge of the above-mentioned private oil company in Guangzhou also told reporters that there have been many private gas stations in Guangzhou that offer discounted promotions, and that only diesel oil shortages are basically not much of a preferential rate. The preferential rate of gasoline is 0.05 to 0.4 yuan per liter. “At the same time, the recent increase in the smuggling of diesel and non-standard diesel at low prices shows that the domestic refined oil market is still profitable before it is adjusted,†the source said.
Development and Reform Commission in the face of the “尴尬†dispute Development and Reform Commission caused a wide-ranging controversy in the price adjustment is that China is currently in the context of inflationary pressure, the rise in refined oil prices will undoubtedly increase this pressure to a greater extent.
According to data from the National Bureau of Statistics, China’s CPI increased by 3.6% in September, exceeding the warning line set at the beginning of the year by 3%. China’s inflationary pressure is huge, and refined oil, as one of the ultimate basic production materials, will increase its price. It will trigger a series of chain reactions involving multiple industries.
For questioning, the NDRC also said that it intends to further improve the refined oil pricing mechanism on the basis of fully listening to the opinions of all parties and that a more transparent new product oil pricing mechanism will be introduced within the year.
Lin Boqiang, director of the China Energy Economic Research Center at Xiamen University, suggested that the period for adjusting refined oil prices and the extent of each adjustment should be adjusted from the current 22 days and 4% to 14 days and 3%.
“This can reduce the hysteresis effect in the process of transmission of oil prices, making domestic oil prices more timely reflect the changes in the supply and demand relations in the domestic market, consumer structure, etc. And from the possible impact, the adjusted results are beneficial to all parties. : For the government, it can reduce speculation and avoid public dissatisfaction, but also conducive to the transition to market pricing; for companies, can make the domestic oil prices closer to the international oil prices."