At 4:00 on October 19 (Wednesday), a new round of refined oil retail price adjustment window will open. International oil prices rose by 1.1% in the week and showed a four-week trend. Judging from the current trend, the domestic retail price limit for refined oil products will usher in the biggest increase in the year on October 19, with an expected range of more than 280 yuan/ton. This will also be the seventh increase in refined oil prices during the year.
Since October, the international crude oil price has directly affected the international oil price due to the impact of the frozen production meeting and the decline in US crude oil inventories. Therefore, the possibility of an increase in the next round of oil price adjustment has risen sharply. As of October 9, the national refined oil price index was 628.04, an increase of 2.66%, and the national refined oil price index continued to rise.
Many institutions believe that during the National Day, crude oil futures continued to rise due to the frozen production agreement. As of the first working day of the Japanese round of the price adjustment cycle on October 7, the crude oil price change rate was 9.7%, and the domestic retail oil maximum retail price limit was increased by 310 yuan/ Tonne or so. However, due to the long time from the opening of the price adjustment window, the international crude oil trend will directly affect the final adjustment of refined oil prices.
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