“Expected tomorrow or the day, the weighted average price of crude oil moved three places the rate of change may well break -4%.” Energy analyst information storage section Mong Mong, said yesterday that the recent sharp decline in international crude oil prices, domestic oil prices may be the fastest in the Friday cut.

Wang said storage section, from the last week by U.S. economic data and other adverse factors, international crude oil prices falling sharply. As U.S. Eastern Time on July 6 closing, the New York Mercantile Exchange (NYMEX) the WTI8 month futures price settled at 71.98 U.S. dollars a barrel, London Intercontinental Exchange (ICE) of Brent8 month price of crude oil settled at 71.45 U.S. dollars a barrel. According to the latest information Mong energy data, as of the date, the weighted average price of international crude oil moved three places up the rate of change -3.9%, close to the domestic oil price adjustment threshold.

Can check the information, the National Development and Reform Commission last cut retail oil limit is 1 June. But in the following June 2 to June 25 period, interim relief by the debt crisis in Europe, the euro rebounded against the dollar and other factors support a relatively strong crude oil prices trend, from 70 U.S. dollars / barrel soared to 78 U.S. dollars / barrel.

From June 28, the international crude oil prices fell sharply, down nearly 8 percent last week, while Brent, Dubai, Cinta weighted average price of crude oil changes in the three rates (base period of May 28) has also begun to – close to 4%.

According to the State Development and Reform Commission promulgated last year, oil prices have fallen condition, “22 working days of the three changes in crude oil prices lower than -4%”, refined oil prices may cut again.

Storage section Wong said yesterday, this time down the window and perhaps more so soon, “Development and Reform Commission last price adjustment too fast”. June 1, the National Development and Reform Commission will be gasoline and diesel prices were reduced by 230 yuan per ton and 220 yuan (equivalent to about 0.2 yuan per liter).

It is reported that, although in Beijing recently welcomed a record-breaking hot weather, many gas stations are off the peak oil price cuts in the summer tide. The gas station is located in the central area of Beijing, the highest per liter of petrol price cut to almost 0.3 yuan, while a number of private stations in the suburbs of Beijing’s price cut to 0.4 yuan per liter.

Rate of change of the three crude oil prices

According to the “oil price control approach”, when the international market of crude oil for 22 consecutive working days moving average price changes of more than 4%, can adjust domestic oil prices. In which international oil price changes moving average reference Brent, Dubai, the weighted average price of crude oil Cinta three rate of change.

When international oil prices fall below 80 U.S. dollars per barrel, the profit margin calculated in accordance with the normal processing of oil prices. More than 80 U.S. dollars a barrel, the profit margins began to reduce processing until the processing of zero profits calculated according to oil prices. When more than 130 U.S. dollars a barrel, according to both the producer, consumer interests and maintain smooth operation of the principle of appropriate fiscal policies to ensure the production and supply of refined oil, gasoline and diesel prices raised in principle to mention or less.

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