In accordance with the trend of oil prices, yesterday's international oil prices in the three places (Sinta, Dubai, Brent) rate of change fell below 4%, which also means that the new round of domestic oil price expectations have been clear.
According to the provisions of the National Development and Reform Commission, the rate of change of 4% is only one of the conditions for meeting the price adjustment, and the interval between two price adjustments will reach 22 days. Therefore, even if the rate of change in international oil prices continues to fall, it must wait until July 11th before the price of oil may actually be lowered. Prior to May 10, June 9 domestic refined oil prices have been lowered twice.
The completion rate of wholesale direct sales in mid-June is only about 30% of the original sales plan.
Market participants believe that the new price cuts are expected to re-emerge, and the fundamentals of gasoline are relatively good, but the seller is still minimizing inventory. The weak diesel market and the depressed economic environment have made the overall domestic demand very weak.
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