Foreign media: China's refined oil into the "8-yuan era" "anti-inflation" campaign ended

The National Development and Reform Commission announced on the 19th that since midnight on March 20, domestic gasoline and diesel prices have been raised by 600 yuan per ton. This increase was far more than the price rise predicted by the market institutions before, and it also set the second largest increase since 2008. Foreign media reports pointed out that in the face of continued rising international crude oil prices, the oil price adjustment will help China's domestic oil refiners to ease the continued shrinking profits. Some analysts pointed out that in the context of the low CPI increase, the oil price increase also revealed that the signal that China's "anti-inflation" campaign will end.

China's refined oil prices have entered the "8-yuan era"

China National Development and Reform Commission announced on the 19th that since midnight on March 20th, domestic refined oil prices have been raised, and the prices of gasoline and diesel have risen by 600 yuan per ton. This has also helped the traders who have been riveting and purring oils to look forward Time to honor.

After this adjustment, the national average of No. 90 gasoline and No. 0 diesel increased 0.44 yuan and 0.51 yuan per liter, respectively, both breakthrough 8 yuan mark, declared that China's refined oil prices fully entered the "8 yuan era."

At present, the retail price of gasoline No. 93 and No. 0 diesel in the Beijing market is 7.85 yuan and 7.79 yuan per liter, respectively, and the 97th gasoline price is 8.36 yuan per liter. The prices of refined oil in other parts of the country are basically similar to those in Beijing.

Development and Reform Commission: Should have risen earlier, more for the oil price increase, the relevant person in charge of the Development and Reform Commission said that it is still following the principle of the pricing mechanism. According to the introduction of the pricing mechanism, when the international average oil price changes for 24 consecutive working days, the domestic average price of refined oil can be adjusted. The first time this year, the price of oil was adjusted to zero at 0:00 on February 8, after which the Iranian nuclear crisis affected other international oil prices. According to data from the National Development and Reform Commission, the rate of change in international oil prices in the three places on February 24 has already reached 4%, and the current increase has exceeded 10%. Therefore, it has decided to increase oil prices.

On February 24, according to the current mechanism for the formation of refined oil prices in China, domestic refined oil prices have already met the price adjustment requirements. That is, the average moving price of three kinds of crude oil in the international market has increased by more than 4% for 22 consecutive working days, and the current increase has exceeded 10%. .

While delaying the time for price increase, the official also suppressed the price adjustment. If the increase in oil prices in the international market, the price adjustment should be around 700 yuan per ton.

Foreign media: China's "anti-inflation era has ended"

Foreign media also paid high attention to the news that China has continuously raised oil prices within two months. The US “Market Watch” reported on the 20th that China has raised the prices of gasoline and diesel for the second time in the year to ease the emergence of domestic refiners in the production and processing in the face of rising international crude oil prices and declining domestic consumer price inflation. loss.

The U.S. "Wall Street Journal" pointed out that despite the increase in oil prices, there is still a large gap between China's domestic market and international market, which is not enough to prevent China National Petroleum Corporation (CNPC) and China Petroleum & Chemical Corporation (Sinopec), etc. The refining business of large oil companies fell into further losses.

In addition, media analysis also pointed out that China's current increase in gasoline and diesel prices shows that the Chinese government is not worried about the prospect of inflation. The US Bloomberg News Agency reported on the 20th that following the control of inflation through the control of tariffs last year, the Chinese government has already had more room to handle inflation. Prior to this, China's consumer price index rose by the lowest level in 20 months.

"The time for this price increase is earlier than we expected," said Gordon Kwan, regional energy research director at Hong Kong Futures Securities Co., Ltd., "This shows that China's anti-inflation campaign has officially ended."

However, some analysts pointed out that the current price adjustment has little effect on domestic inflation in China. Reuters reported that although the increase in Chinese refined oil prices exceeded expectations, industry insiders predict that the price adjustment will have limited impact on China's domestic inflation. The report introduced the background of the current situation, China's consumer price index in January rose sharply rebounded to 4.5% year-on-year, but the February gains have dropped to 3.2%, the lowest since June 2010, the overall inflation showed a downward trend.