Oil price has dropped again!Filling a box of oil will spend less ...

"China Business Daily"

According to the National Development and Reform Commission, the new round of refined oil price adjustment window will be opened today (July 26) at 24:00. According to the monitoring of the National Development and Reform Commission's price monitoring center, the international oil prices continued to decline during this round of the price adjustment cycle (July 12 -July 25). On average, Brent in London and WTI in New York decreased by 6.32%lower than the previous round of price adjustment.

CCTV Financial reporters learned from the National Development and Reform Commission that the specific situation of the oil price adjustment is as follows: Domestic auto and diesel retail price limits are reduced by 300 yuan and 290 yuan per ton, respectively.

Looking at the average nationwide:

No. 92 gasoline is reduced by 0.24 yuan per liter;

No. 95 gasoline is reduced by 0.25 yuan per liter;

No. 0 diesel is reduced by 0.25 yuan per liter.

CCTV Financial reporter calculates you a account. Taking a home car with a fuel tank capacity of 50L as an example, it will spend 12 yuan less with a box 92 gasoline.

After the implementation of the policy, the first "three consecutive declines" during the year will be reached. According to data statistics, the cumulative declines of auto and diesel have fallen by 980 yuan and 945 yuan. On average, the nation ’s average of gasoline, No. 95 gasoline, and No. 0 diesel have been reduced by 0.77 yuan, 0.81 yuan, and 0.8 yuan, respectively. Taking a house with a fuel tank capacity of 50L as an example, the full box of 92 gasoline will spend about 39 yuan less than in mid -late June.

Oil price fluctuates sharply

It may still run weakly in the short term

During the price adjustment cycle, Saudi Arabia stated that crude oil production capacity was limited and refused to increase production significantly, bringing certain support to oil prices. However, the market's concerns about the global economic recession and the reduction of crude oil demand continue to heat up, and oil prices have significantly declined in a sharp fluctuation. On the one hand, high oil prices have been suppressed in current consumption. The demand for gasoline in the summer of the United States has decreased by nearly 8%year -on -year, close to the lower level since July 2020, and the inventory increase is much greater than expected. On the other hand, the impact of high inflation on the economy is increasing, and the market's growth in global economy and crude oil is expected to decline. The EU lowered the economic growth forecast value of the euro zone today and the next year. OPEC expects that the growth of crude oil demand next year will decline by 700,000 barrels /day. In addition, the US dollar index hit a new high price of crude oil prices at a 20 -year high, and the price of oil prices in the two cities has fallen to the low point since April this year. On average, Brent and New York's WTI oil prices decreased by 5.87%and 6.78%compared with the previous price adjustment cycle, respectively.

The National Development and Reform Commission Price Monitoring Center predicts that oil prices may still run weakly in the short term. In terms of demand, the weak consumption brought by high oil prices will continue. In terms of supply, the United States and Europe allow traders to purchase Russian sea transport crude oil and sell them to third parties. The recovery of Libyan crude oil production will help alleviate supply tensions.

Source: CCTV Finance

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