China Financial Daily

Private two giant gas station gas station price flexibility?
Since June 30 the country has raised gasoline and diesel prices, oil prices fell again, Beijing early morning of July 8, New York’s main oil futures contract for the fifth trading day closed down, closed at 62.93 U.S. dollars, a five-day decline nearly 12%. Although the provincial capital in the oil, Sinopec in retail prices of refined oil is not moving, but in Shandong and refining as well as many private gas stations have taken the lead with the international “world” price.

This reporter learned that, although since the country on June 30 raised the gasoline and diesel prices, but the most recent weakness, the petrol refinery in Shandong to wholesale prices fell by 300-500 yuan per ton and diesel wholesale prices have dropped about 300 yuan. And private gas stations drop the retail price of a liter of 5 cents to 34 cents range.

“And smelting, private gas stations take the lead in price, to a large extent is determined by supply and demand, market demand, through the promotion for customers.” Shandong Huaxing Petrochemical Co., Ltd.-feng, deputy general manager, told reporters in the country, crude oil prices but also to refining and marketing of private gas stations have the space.

“The rise in oil prices after international oil prices to wind down wind, how the only private stations do not itch and pain of every take-off and landing it about a dime?” The capital of taxi drivers to listen to news every day Master Li very concerned about the international oil, I heard a five-day international oil prices fell nearly 12 percent, he can not help but wonder and ask.

“At present, international crude oil prices, the wholesale price of refined oil have gone down, and the expansion of the retail price spreads, but the state does not adjust prices immediately.” Provincial Price Bureau explained that the relevant person in charge, according to National Development and Reform Commission recently approach to develop, when the international market of crude oil for 22 days moving average price changes more than 4% when adjusted domestic gasoline and diesel prices. While the recent sharp decline in international oil prices, but oil prices as a result of the adjustment from the finished product is far from 22 working days, it also can not determine the product price will be lowered.

“The recent international oil prices is likely more than 60 U.S. dollars in consolidation, if international oil prices continued consolidation, domestic oil prices will have the possibility of callback.” Haitong Securities [18.34 0.33%] analysts said Liu Wenhui

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