echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > Petrochemical News > What does it mean that the price of refined oil products in many places "breaks 10"?

    What does it mean that the price of refined oil products in many places "breaks 10"?

    • Last Update: 2023-02-17
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    The National Development and Reform Commission announced on the afternoon of June 14 that since 24:00 on the same day, domestic gasoline and diesel prices have increased by 390 yuan and 375 yuan
    per ton respectively.

    This is the 10th increase in domestic refined oil prices this year, and the highest oil price in some areas has exceeded 10 yuan / liter for
    the first time.
    These two "10" are particularly eye-catching at a time when global inflation is intensifying and the oil geopolitical landscape is undergoing major transformations
    .

    In just half a year, the domestic price of refined oil products has risen 10 times in a row, which may be unique in the history of new China
    .
    According to the statistics provided exclusively by the industry organization Zhuo Chuang Information, since the implementation of the new pricing mechanism on March 26, 2013, the retail price limit of domestic refined oil products has not risen 10 times in half a year, and there have only been 9 increases
    at most.
    Between April 28 and October 22, 2021, domestic oil prices rose nine times, not continuously, with downward adjustments and strandings
    .

    From the perspective of the reform of the pricing mechanism of refined oil, the current frequency of price adjustment with an interval of 10 working days is undoubtedly more in line with the direction
    of market-oriented reform.
    However, for consumers, after the frequency of price adjustment is faster, the transmission of refined oil products to the rise in crude oil prices is also more rapid, and the impact of high oil prices is also more significant
    .

    After this round of price adjustment, the domestic No.
    92 gasoline has fully entered the "9 yuan era", and the No.
    95 gasoline in some areas has officially entered the "10 yuan era", and even the No.
    95 gasoline in a few areas has exceeded 11 yuan / liter, such as the maximum retail price of No.
    92 gasoline after the price adjustment in Hainan is 10.
    43 yuan / liter, and the No.
    95 gasoline is 11.
    1 yuan / liter
    .

    For some "old drivers" who have been driving cars for 20 or 30 years, the price of more than 10 yuan per liter of oil was unimaginable in the
    past.
    Some car owners sighed: "Add one tank of oil, enough to buy a bicycle, add five tanks of oil, you can buy an electric car
    .
    " ”

    For the majority of "driving people" and logistics and transportation and other oil, high oil prices mean higher costs, but it will also force more people to buy new energy vehicles
    with low costs.

    For the national energy supply system, which is dominated by central oil enterprises, high oil prices mean that the burden of imported crude oil is heavier, and energy security is further threatened
    .

    As a country with a foreign dependence of up to 70% on oil, China still needs to be fully prepared
    for further oil prices in the future.

    First of all, it is necessary to open up the "oil road" and find more crude oil import channels from the world to avoid the opportunity of some oil-producing countries to invest in high oil prices
    .

    Second, it is necessary to accelerate the establishment of an energy pricing center to make China's position as the world's second largest oil consumer really stand out
    .
    After all, the transition from traditional energy to new energy is the trend of the times, and oil will eventually withdraw from the center of the energy stage
    .
    China, which imports more than 10 million barrels of crude oil per day, should seize this opportunity to switch identities, participate in governance, and truly grasp the right to speak in the
    oil market.

    Finally, it is necessary to make "bottom-up" preparations for downstream users whose domestic expenditure burdens, including transportation, transportation, agriculture, fishery, infrastructure and other expenditures have increased significantly, while continuing to vigorously promote new energy and let the energy transformation take the lead in China
    .

    I believe that by the moment when the new energy station takes center stage in China, oil prices will no longer be the topic of our anxiety, and the energy independence that generations have looked forward to will finally be realized
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.