Qingdao's oil prices are back in seven years
Qingdao's oil prices are back in seven years
After many days of sustained rise in international oil prices, domestic oil prices for finished products rose again. Yesterday, the national development and reform commission announced an increase of $390 and $370 per ton in the price of gas and diesel fuel, respectively, starting at 0000 hours on 10 august. At around 9 p. M. Last night, journalists learned from the island city oil company that, as of 0:00 today, our city will implement new retail prices for diesel fuel. Of this amount, petrol 93 rose to $7. 27 per litre, an increase of $0. 31; petrol 97 was adjusted to $7. 8 per litre; and diesel 0 was increased to $7. 11 per litre, an increase of $0. 32 per litre。
Thus, the “six age” of retail prices for domestic finished oils ended with a “year-long” month。
Authorisation
Diesel's up by almost $400 per ton
On 10 august, the national development and reform commission announced an increase of $390 and $370 per ton in the price of gas and diesel fuel, respectively, from 0000 to 0. 29 and $0. 32 per litre in petrol 90 and diesel 0 (national average)。
According to the head of the commission for development and reform, the adjustment of the price of oil in domestic products was based mainly on the mechanisms in place to establish the price of oil in domestic products and on recent changes in oil prices on the international market. Since the 11 july adjustment of domestic oil prices for finished products, oil prices on the international market have risen, with prices for wti and brent crude oil rising again to $90 and more than $105 per barrel in late july. As at 8 august, the international market for three crude oils linked by domestic oil prices had moved at an average price of more than 4 per cent for 22 consecutive working days, meeting the border conditions for price adjustments for domestic finished oils。
The commission also requested that the three major companies, namely, oil, petrochemicals and sea oils, organize the production and transportation of finished oil, maintain reasonable stocks, enhance integrated coordination and emergency response and guarantee the supply of finished oil. Price authorities at all levels are to intensify market supervision and inspection and, in accordance with the law, fail to implement the national price policy, as well as to maintain normal market order through illegal practices such as the hoarding of surprises, misinformation, conspiracy to increase prices and driving up prices。
Industry projections
Oil prices do not preclude a return to the 8th age
Yesterday evening, journalists were informed by the china-citizen islands branch, the golden shield gas station that the retail price of the finished oil in the island city had been announced. Of that amount, petrol 93 was adjusted to $7. 27 per litre, returning to the “age 7”; petrol 97 was adjusted to $7. 8 per litre. For diesel, diesel no. 0 rose to $7. 11 per litre, diesel no. 10 to $7. 67 and diesel no. 20 to $8. 03. In terms of the increase, petrol 93 was increased by $0. 31 per litre and diesel 0 by $0. 32 per litre. According to journalists, the increase was the same as the one announced in beijing。
“it should be said that this increase has been more forthcoming.” the head of a private gas station in the island stated to journalists that the price increase in domestic finished oil was in line with the trend in international oil prices, both in terms of time and magnitude of adjustment, which were more in line with changes in international oil prices. In the light of the current market for manufactured oil in qingdao, the wholesale price of diesel gas in qingdao increased at the beginning of august, on average, at around $200 per ton, just prior to the price increase in this wheeled oil. However, kim li has a different view of current oil prices, which zhu kohai, an analyst of kim li source investment consulting ltd., has stated to journalists that, given the recent tensions in the international commodity markets in iran and syria, together with the increased likelihood of economic stimulus packages and quantitative monetary easing in the us and europe, the price of crude oil will remain strong for some time to come. “the price of oil is still on the path of a steady rise, and there is no risk of a short-term downturn and high shocks.” according to al-zhucohai, if international oil prices continue to rise in comparison with domestic and foreign prices, and the latter break the $110 threshold, there is a risk that domestic oil prices for finished products will return to the “eight-era” and that “this is likely to increase in the present situation”
Citizen response
Private car owners lined up early
Every day before the gas was said to be going up, the city's gas stations became “centres” for the owners, this time no exception. Yesterday morning, journalists visited various gas stations, such as sichuan road, shandong road and liaoning road, and found that there were a large number of vehicles waiting for refuelling at each station and that there was a significant increase in the supply of fuel at the station. At about 5. 30 p. M. Yesterday evening, when journalists passed the ginchuan west road shield gas station in rain, it was discovered that many vehicles had been lined up to wait for refuelling. "are oil prices going up tomorrow? It's hard to refuel in such a long line." the owner of the private car, liu hong, is waiting to refuel. “full it up!” the reporter heard almost both in his interview at the gas station, and some of the drivers were rushing to refuel, mainly concerned about the price of finished oil. According to the agencies concerned, the price of domestic finished oil will be increased for the first time after a “triple drop”, and the window for price adjustments will be opened this morning。
During visits to the petrochemical gas station on the western road of gincheon, journalists also found that vehicles passing through the site were waiting to be refuelled and that the queuing had spread to the road. “it is normal for vehicles to line up at this peak every day, but a little more today.” gas station staff say so. Mr. Liu, the owner of the honda rcrv, stated that he had heard from weibo that the price of gasoline was going to increase and that there was only a small amount of fuel left in the car and that he had to come and refuel at home from work. The private car owner, ms. Wang, who was waiting for refuelling, said that it was still unknown whether oil prices were currently rising, but that, in any case, the tank should be filled。
“the news of an increase in oil prices confirms that petrol 93 will soon become history at $6. 96 per litre.” when wang hong qiang, who was waiting on the road for refuelling, had read the tweets, he quickly conveyed them to the front and back of the car and then quickly passed them on to other friends. “now prices are rising rapidly, household expenditure costs are rising, and oil prices are rising by two or three cents, albeit not much, but they are running out of time, so they can be saved.” wang hongqiang said. A number of private car owners interviewed complained about the increase in the price of petrol, which they considered to be very depressing as it was just a few days before it fell。
Early refuelling will save nearly a ton of oil
It is understood that, under the current oil price management scheme, the domestic price of finished oil can be adjusted accordingly when the average price of crude oil on the international market changes by more than 4 per cent for 22 consecutive working days. As at 6 august, crude oil in the three locations (dubai, brent, sinta) had changed at 6. 19 per cent. According to this trend, the 10-day price of finished products is projected to meet the conditions for upward adjustment by this month, and the news of this price increase confirms the judgement of the agencies concerned. At around 6 p. M. Last night, it was confirmed that the price increase for gasoline today at 0000 was to be adjusted upwards to the price of oil, with petrol 93 increasing by 0. 31 yuan/l and diesel 0 increasing by 0. 32 yuan/l。
The general manager of the qingipuri motor charter company, yang's army, was also busy yesterday, and he was informed by each driver to refuel. “the price of one litre of petrol 93 is increased by 3. 1 cents, calculated on the basis of a 50-litre tank per vehicle, which saves $15. 5 for one car in advance and $310 for 20 vehicles, which is close to the price of the previous one ton of petrol 93.” the yang gui jun said that there was a more severe traffic jamming in the urban areas at peak hours, with more than 20 cars running in the urban areas for most of the day, which would consume more oil than a high-speed run, and that the price of oil would significantly increase their daily travel costs. “according to the increase in prices, 20 cars cost $15. 5 per refuelling, an average of two days, plus $465 per month, which is not a small sum.”
Journalists, however, remember that before the price of finished oil fell, either private owners or companies that used more cars, they were “negative” in refuelling, with an increase of $50 or $100 in the price of oil. The price increase also put pressure on a number of companies distributing large buckets of water, which drove diesel trucks to the gas station to refuel. "we run on the road every day, we pull a lot, zero # diesel goes up 0. 32 $ per litre, and we spend an extra $5,600 a month on a car." mr. Song, a large bucket distribution point in the city, told the press that he had also informed his crew of the workers who were carrying the buckets of water。
