Monthly Archives: October 2014

The first is finished oil decades “five-day losing streak.”

At 0:00 on the 30th, went to the oil price adjustment window, a further drop in oil prices, gasoline 92 will be lowered 0.08 yuan / liter. This is the ninth year of refined oil prices, domestic oil prices over the past decade the first five-day losing streak.

National Development and Reform Commission announced a reduction in the retail price of refined oil products, ranging from gasoline 100 yuan / ton, diesel 95 yuan / ton, equivalent to No. 0 diesel 0.08 yuan / liter. Beijing Youth Daily reporter learned from Sinopec Beijing Branch, Beijing No. 92 gasoline retail price 7.36 yuan / liter, decrease 0.08 yuan / liter; No. 95 gasoline retail price of 7.83 yuan / liter, decrease 0.09 yuan / liter. Beijing marked No. 0 diesel 7.29 yuan / liter, price 0.08 yuan / liter.

Since July 21 price cut, the domestic refined oil prices hit five-day losing streak, after the price adjustment, an ordinary private car traveling an average of 1,000 km per cost savings of about 50-60 yuan from the previous month. Large transport vehicles traveling 10,000 kilometers per cost reduction of about 2,000 yuan.

Weak global economic performance, adequate supply of petroleum resources, since August, the international oil prices continue to fall, the data show that as of September 26, September WTI average price of 93.06 U.S. dollars / barrel, down 12.6 percent from a year earlier. Under the shadow of the international oil price downturn situation, the domestic refined oil prices falling.

The industry believes that the current round of oil price down cash for domestic transport and aviation logistics industry, is a big plus. Golden Week free high-speed access, the price of oil down to private owners National Day travel is undoubtedly a major positive. In addition, the domestic refining industry, will be in the petroleum, petrochemical performance impact.

So far, 12 times during the year 2014 the cumulative price adjustment gasoline rose 595 yuan / ton, diesel rose 575 yuan / ton; cumulative decline in gasoline 1220 yuan / ton, diesel decline in 1175 yuan / ton. Overall, gasoline overall fell 625 yuan / ton, diesel overall fell 600 yuan / ton. The price of oil down to cash, the overall rate of decline is further widening.

Oil analyst Pan Haiping business community believes that the beginning of the fourth quarter, international crude oil prices remain low, hard to find positive factors, mainly crude oil weak consolidation. But the already low prices, without significant negative event occurs, continue down the space or more limited. With the advent of winter peak oil, early November or inflection point, so the October 20 price adjustment “six-day losing streak,” or aground.(related: organic chemicals)