After returning from a long vacation, is your car's fuel tank empty?

Tomorrow (October 13, 24 hours) will be the first oil price adjustment in October, although the price of oil appeared in September twice in a row, so that the price could not continue to fall, but now the price of oil in October has been realized by the rise and fall, to meet the fall again.

According to the estimates, as of the ninth working day of October 11, the average price of the reference crude oil varieties was $64.30 / barrel, the change rate of 1.37%, the corresponding domestic diesel retail price should be reduced to $75 / ton, and the reduction rate for the liter was converted to $67 / litre. Since the international oil price fell on October 10, and the last working day of the domestic international oil price was not traded, it means that the average price of the reference crude oil varieties will be further reduced, and the actual reduction will be further expanded.

On October 10, international oil prices fell sharply due to multiple interest rates, with New York crude oil futures falling by 5.32% below the US$60/barrel rate, reaching a five-month low of US$58.24/barrel; Brent crude oil futures fell by 4.8% to the US$60/barrel rate, closing the record of US$62.09/barrel. Since this year, New York crude oil futures have fallen cumulatively by 18.8%, and Brent crude oil futures have fallen cumulatively by 16.81%

New York Oil Futures

New York Oil Futures

The reason for the crash in oil prices is mainly the threat of the U.S. president to significantly raise tariffs, which has caused investors to worry about the worsening of international trade tensions; OPEC has continued to increase supply to the market for months, the supply and demand situation has changed; the situation in the Middle East as the world's main supplier of crude oil has seen a major shift, the ceasefire agreement between Israel and Hamas came into force, and the geo-risk premium decline is expected to further improve crude oil supply expectations.

In fact, since the domestic oil price was lowered on August 26, it has not been adjusted for more than one and a half months, during which two adjustments have been stranded; Since the oil price increase on July 1, domestic oil prices have not increased for more than three months. So far this year, domestic oil prices have experienced "six rises, seven falls and six strandings", with the rises and falls offsetting each other. Taking No.92 gasoline in Zhejiang Province as an example, it has been reduced by 0.32 yuan per liter.

Source: Chao News, Hubei Daily