Saturday, March 3, 2012

Crude oil futures prices high, PetroChina want products prices in April rose small

"Jiang jiemin Chairman 25th clearly said last month '3 month not up ' results have risen, but the adjustment of fuel prices has been a very long time, we hope that rose slightly in April. "Yesterday, the China Petroleum and natural gas Co Ltd (hereinafter referred to as oil) Ministry of Finance Director of financial reporting, Mu Xiuping on morning news reporters.
Visible is from the last time on November 10 last year to adjust fuel prices over the past 4 months. As of March 31, three (Dubai, Brent and Cinta) 22 consecutive days of change rate of weighted average price of crude oil rose to 4.08%, has exceeded the current oil prices trigger--"22 business days moving average price of Super-4%", the domestic refined oil price adjustment window has been opened.
Monita analyst Chen Pengyu told Hong Kong reporters yesterday, is likely to usher in a price adjustment for the first time this year in early April, ranges from $ 100 to $ 200 per ton. This week, the United States gasoline price is $ 5.04/liter, cheaper than current domestic oil prices, 93rd $ 1.57/liter.
"Under the current level of oil prices (cost US $ 75/barrel for crude oil, gasoline diesel 7,000 yuan/ton, $ 6,360/ton), the domestic refining is loss. But for the oil refinery business profits, anticipated domestic oil price surges of 500 Yuan/ton. "Hai Tong securities analyst Deng Yong said.
But the increases in fuel prices, there are still many uncertainties. Market analysis, current product supply exceeding demand and inflation expectations in the market or will be the price of "Tiger blocking the road".
National development and Reform Commission, Director of the Energy Research Institute, the original Zhou Dadi said, despite the current has reached a price adjustment window, but does not necessarily mean that'll adjust the price, you may need further observation of the operation entities to bear conditions, fluctuations in market supply and demand, as well as the price of crude oil will have.
"Recent domestic supplies of oil products has been sufficient, pricing is not a great deal of pressure. "Zhou Dadi said.
In addition, saying inflation expectations in the market pressures affecting the oil price.
"The current CPI is 2% per cent, inflation is not very high, price now actually better than price in the future, relatively high levels of inflation by the end of last year, but the price of water prices are going up, short term pressures, but medium-to long-term inflation expectations have little impact. "Chen Pengyu told the morning news reporter.
"The current low CPI, should take advantage of this opportunity, the adjustment on price adjustment, facilitate social adjustment price adjustments. "Zhou Dadi said that the oil price should not be the macroeconomic regulation and control policy.
According to statistics, in 2009, oil prices were 5 3 8 off adjustments, becoming over the years ' most frequent oil prices hiked by one year, is also developed one of the most controversial years in oil prices.
"Despite the great progress of refined oil pricing mechanism than in the past, but the company found in the running, current oil price adjustment mechanism of price adjustment is too transparent, some long time 22 days, the oil market speculation, more effort to run. "Oil Vice President Li Hualin yesterday morning news reporters.
Chen Pengyu told reporters, without the need for 22 days to 10 days. "Under the market mechanism, oil speculation is a normal market behavior.
Due to the weak dollar offset the effect of the increase in commercial inventories of crude oil, international oil prices March 31 $ 84 a barrel, hitting a 17-month high.
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