Although domestic refined oil prices have been lowered twice, the sales of refined oil products have been affected by the economic downturn. The retail market of refined oil products in many places has started a price war, and retail prices of some gas stations have even fallen below 7 yuan. According to industry forecasts, the rate of change in crude oil in the three places may again break four. On July 11, oil prices may meet the third domestic drop.

Gas station sales promotion

Gas stations in Guangzhou, Beijing, Shanghai, Tianjin, Chengdu and other places have once again launched a promotional campaign. Gas stations in Guangzhou had their prices cut on the first day of June 9th, and dropped 0.21 yuan on the basis of a decrease of 0.42 yuan. The total drop reached 0.63 yuan/liter, which has attracted cars to line up. The sales price of 92 oil stations in Beijing is lower than 7 yuan. Nearly 200 gas stations in Tianjin have launched promotional campaigns. Among them, the price of most of the PetroChina gas stations No. 93 is below the maximum price of one cent. There are individual petrol station retail price of 93 gasoline 7.11 yuan / liter, when handling the fuel card to enjoy 6% discount, after the cumulative multiple discount, the price of one litre of oil at 6.82 yuan / liter, lower than the ceiling price of 0.49 yuan / liter . Some gas station sales in Chengdu, the 93 price is 7.25 yuan / liter, lower than the ceiling price of 9 points.

The South China market’s bearish sentiment has gradually increased. Last week, the cumulative decline in gasoline and diesel in the wholesale market was as high as 250 to 300 yuan/ton. Among them, Guangdong Petrochina No. 93 gasoline fell 300 yuan/ton to 9300 yuan/ton, No. 97 gasoline was 10,000 yuan/ton, down 300 yuan/ton; Guangdong Sinopec Yuesi No. 93 gasoline 9350 yuan/ton, down 300 yuan / Tons, No. 97 gasoline 10,000 yuan / ton, down 300 yuan / ton.

Industry Forecasts July Oil Prices Retreat

According to Treasure Island data, on June 15th, the average price of crude oil in the three places (Sinta, Dubai, Brent DTD) was 100.067 US dollars per barrel, and the average price in the past 22 days was 104.305 US dollars per barrel, compared with the base price of June 7. It fell by 3.26%. According to forecast, the fastest 20 days of oil prices will once again break -4%.

The industry predicts that the EU will comprehensively sanction Iran in July, while the weak economy faces the possibility of QE3 in the United States. In the second half of the year, there are many variables in the trend of oil prices. In July, the refined oil retail price may also be lowered again.

Zhongyu Information analyst Wang Jintao said that with the current trend of crude oil, the rate of change in the three places will quickly converge to -4% in the second half of June, and the retail price of domestic refined oil products in the first half of July is likely to be lowered again.

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