Data | International oil prices hit a 14-year high. What level is China’s oil price in the world?

2022-07-12 0 By

Article | 王薇喆 meng to dilute Hera edit | Chen Chen on the afternoon of March 31, 2022, the National Development and Reform Commission, in a news release from 31 March 24, domestic gasoline and diesel prices (standard, similarly hereinafter) are per ton increase 110 yuan.Oil prices have risen for the fifth time in a row this year.How much more will it cost to fill up the tank?What are the factors affecting oil prices?What is the world level of oil price in China?International oil prices hit a 14-year high. How much more will it cost to fill up a tank of gas in China?International oil prices have fluctuated dramatically since 2022.Oil prices surged to a 14-year high of $137.64 per barrel in early March, according to CNPC.Despite a sharp drop in mid-March, international crude oil prices have risen from $75.4 per barrel to $102.54 per barrel since the end of 2021, an increase of about 35.9%.According to the official website of the National Development and Reform Commission, after the adjustment of oil prices on March 17, the price of gasoline per ton in China has exceeded 10,000 yuan, reaching 10,005 yuan per ton.On March 31, the price increased by 110 yuan to 1.0115 yuan/ton.Since January 17, the two months increased by 1,640 yuan, or 19.35%.Because the specific oil price of each province is different, the interface data calculates the average oil price of 23 provinces in China since the beginning of this year.As of March 17, this year since 92 gasoline accumulative increase of 1.23 yuan per liter, up about 16.48%.95 gasoline has been raised by 1.31 yuan per liter, an increase of 16.45 percent.According to the data on the interface, the fuel tank of ordinary family car is 50L. By March 17th, it costs 434.5 yuan to fill the fuel tank with 92 gasoline, which is 61.5 yuan more than that on January 17th.Filling the tank with no. 95 gasoline costs 463.5 yuan, 65.5 yuan more than on January 17.How are domestic oil prices priced?According to the Measures, China’s oil prices will be adjusted every 10 working days and will take effect at 24:00 on the day of the announcement.The regulation also stipulates that the maximum retail prices of gasoline and diesel should be based on the price of crude oil in the international market.So, how does international crude oil price affect domestic oil price?On the afternoon of March 17, 2022, relevant person in charge of THE National Development and Reform Commission mentioned in an interview that the adjustment of domestic oil price mainly depends on the comparison between the average of international oil price in the 10 working days before the adjustment and the average of the 10 working days before the adjustment.In terms of the oil price adjustment mechanism, when the international crude oil price is below $40 (inclusive) per barrel, the domestic refined oil price will no longer fall.When the international crude oil price is above $130 (inclusive) per barrel, domestic refined oil prices will be little or no mention.As of March 31, the international crude oil price was 102.54 dollars per barrel, only 27 dollars below the ceiling of 130 dollars per barrel.How are domestic oil prices constituted?Take the gasoline price of Beijing 92 on March 31, 2022 as an example, raw materials, refining costs, costs and profits of traders and gas stations account for about 67% of the unit price of a liter of gasoline, and taxes and fees account for about 33%.What level is China’s oil price in the world?According to GlobalPetrolPrices, on March 28, 2022, China’s oil price ranked 61st out of 170 regions, 0.75 yuan higher than the average of 8.52 yuan, which is above the average level.Related: data | oil rally for how long?How much?Historical data tells you that