Oil prices will drop tomorrow night! This may be the biggest drop this year
2024-08-07
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Wang Yanping, reporter of Chao News Client
At 24:00 tomorrow (August 8), domestic gasoline and diesel prices will usher in a price adjustment window. Judging from the current trend of international oil prices, oil prices are likely to experience the largest drop this year tomorrow night.
According to Jinlianchuang's calculations, as of the ninth working day on August 7, the average price of the reference crude oil variety was US$77.31 per barrel, with a change rate of -5.98%. The corresponding domestic gasoline and diesel retail prices should be reduced by 275 yuan per ton. If converted to per liter, the reduction range is between 0.22 yuan and 0.24 yuan, which is more than 20 cents. A private car can save about 11 yuan by filling up a tank of gas (calculated as 50 liters). The specific reduction range depends on the performance of international oil prices on the last working day.
Photo by Gong Liangqi
So far this year, the domestic retail price of refined oil has experienced 15 price adjustment cycles, showing a pattern of "seven increases, five decreases and three stagnations". The largest oil price reduction occurred at 24:00 on May 15, when the price of No. 92 gasoline in our province was reduced by 0.19 yuan/liter and the price of No. 0 diesel was reduced by 0.2 yuan/liter. At 24:00 on July 25, the price of refined oil had just been reduced once, when the price of No. 92 gasoline in our province was reduced by 0.11 yuan/liter and the price of No. 0 diesel was reduced by 0.12 yuan/liter. At present, the retail price of No. 92 gasoline in our province is 7.96 yuan/liter, the price of No. 95 gasoline is 8.46 yuan/liter, and the price of No. 0 diesel is 7.64 yuan/liter.
Oil price adjustments this year
According to Jinlianchuang's analysis, during this round of price adjustment cycle, although factors such as Russia's plan to cut crude oil production and the re-tension of the situation in the Middle East have supported oil prices, on the other hand, due to the poor non-farm employment data released by the United States in July and the rising unemployment rate, the market is worried that the US economic recession will affect the global economy. In addition, China's crude oil imports and processing volume have decreased, and international market expectations for crude oil demand have weakened, and international oil prices have continued to fall.
Currently, both New York and Brent crude oil futures have fallen below the $80/barrel mark. New York crude oil futures fell to a six-month low, and Brent crude oil futures fell to a low since the beginning of the year. At the close of trading early this morning Beijing time, New York crude oil futures were at $72.96/barrel, and Brent crude oil futures were at $76.11/barrel.
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