According to the information of the National Development and Reform Commission, according to the recent changes in oil prices in the international market and the current formation mechanism of refined oil prices, the domestic gasoline and diesel prices (standard products, the same below) have increased by 285 yuan and 270 yuan respectively per ton since 24: 00 on May 16, 2022. The adjusted maximum retail prices of gasoline and diesel in provinces (autonomous regions and municipalities) and central cities are shown in the attached table. Relevant price linkage and subsidy policies shall be implemented in accordance with existing regulations.
At the same time, this month's new round of refined oil retail price adjustment window will be reopened at 24: 00 on May 30. At present, the variety change rate of comprehensive crude oil is 7.89%. It is estimated that the price of gasoline and diesel will be raised by 340 yuan/ton, exceeding the prescribed red line. The price adjustment is equivalent to 0.26-0.30 yuan/liter. It is worth mentioning that this oil price adjustment will be the ninth oil price increase in 2022.
Behind the soaring oil price:
Driven by the sharp weakening of the US dollar exchange rate and the decline of the US dollar index (UDI) by nearly 1%, the international crude oil price denominated in US dollars ushered in three consecutive rises.
The strong demand for automobile travel has pushed the price of gasoline market to be firm. The tension in Ukraine has caused analysts of crude oil investment institutions and financial institutions to worry about the tight world oil supply, which is good for oil price performance.
However, it is expected that the outbreak of monkeypox in many European countries may affect economic growth and hit the bullish sentiment of oil prices. Opec+increased oil production at the request of the United States, which made the bulls have scruples.