International oil prices hit a new high of nearly three-and-a-half years

The new round of refined oil price adjustment window will open on May 11. Affected by the continued rise in international oil prices, domestic oil prices may once again usher in an upward adjustment.

According to Longzhong Information, it is expected that the comprehensive change rate of crude oil on May 10 will be 1.82%, corresponding to an increase of 80 yuan/ton. Zhuo Chuang Information estimates increase by 85 yuan/ton.

Up to now, in 2018, the price adjustment of domestic refined oil products has been carried out nine times, five times, three times, and one time. The total gasoline price has been increased by 290 yuan/ton, and diesel has been increased by 285 yuan/ton.

The latest increase was on April 26, when the price of oil rose “three times in a row” and set the biggest increase in the year.

The increase is expected mainly due to strong international crude oil prices. According to Xu Yu, Zhongyu Information, recently, international crude oil rebounded for several working days. The price of US WTI crude oil futures broke through 70 US dollars/barrel at one time, setting the highest level since the end of 2014.

"Mainly because of the decline in oil production in Venezuela and the market's anticipated impact on US sanctions against Iran. At the same time, news of joint production reductions by oil-producing countries has jointly contributed to the rise in oil prices, and market longs have taken the initiative," said Xu Lei.

This round of pricing cycle US WTI crude oil futures price chart. Source: wind information

On May 9, US WTI crude oil futures closed up 2.08 US dollars at 71.14 U.S. dollars/barrel, and Brent crude oil futures closed up 2.36 U.S. dollars at 77.21 U.S. dollars/barrel.

If oil prices increase, the cost of driving by consumers will increase further. From the retail point of view, the price per liter of gasoline No. 92 has entered the "7-year era." At present, Beijing PetroChina, Sinopec's No. 92 gasoline is 7.07 yuan/liter, and Shanghai is 7.03 yuan/liter.

Long Yan Information analyst Li Yan pointed out that the performance of the gas station has not fluctuate recently. Currently, the preferential rate of main stations such as Sinopec is more at 0.5-0.7 yuan per liter, while that of private gas stations is more at 0.5-1.2 yuan per liter. .