The price adjustment window closed yesterday

　　The source of this change is the continued decline in international oil prices. Since May 5, the price of the main contract of crude oil futures on the New York Mercantile Exchange, the benchmark for international oil prices, has continued to fluctuate around $100 per barrel , and most of the time it has fallen below $100 per barrel.

　　On the 19th, the international oil price benchmark fell below $100 per barrel again. The main contract of crude oil futures on the New York Mercantile Exchange closed down $1.66 at $98.44 per barrel. London Brent crude oil futures fell 76 cents to $111.54 per barrel. Affected by the continued decline in international oil prices, the domestic refined oil price adjustment window was closed yesterday. People no longer have to worry about the country raising the maximum retail price of domestic refined oil in the short term.

　　According to my country's refined oil pricing mechanism, when the moving weighted average price of international oil prices changes by more than 4% for 22 consecutive working days, domestic oil prices can be adjusted accordingly.

　　Yesterday, Xiwang Energy and other monitoring agencies showed that as of the close of the 19th, the moving weighted average price change rate of international oil prices for 22 consecutive working days has been less than 4%, only 3.01%. Since the domestic refined oil price adjustment window opened on May 9, this change rate has once been as high as about 7%.

　　The market turned to light trading

　　Jin Ting, an analyst at the bulk product e-commerce platform Jinyindao, said that the closure of the refined oil price adjustment window has severely hit traders' expectations and behaviors of hoarding oil, thus easing the tight market supply situation. On the other hand, the continuous high-load production of the two major domestic supply channels, Sinopec and PetroChina, has increased market supply. At present, the market has gone from the previous tight state of limited purchase and sale to a state of light transactions.

　　In particular, as May approaches, the temperature in various parts of the country rises, the hot summer begins, and gasoline enters the peak season. However, due to the volatile trend of international oil prices, domestic oil market players are more cautious and passive, and the gasoline market is facing the embarrassing situation of "not booming during the peak season".

　　Wholesale prices of gasoline and diesel fell

　　Domestic wholesale prices of gasoline and diesel have fallen, with gasoline prices falling sharply, especially in Shandong, where local refineries are concentrated. As of the 19th, data from Jinyindao showed that the ex-factory price of gasoline from Shandong local refineries had fallen by more than 500 yuan/ton compared with May 2, a drop of 5.56%. Even though gasoline prices have fallen so sharply, the downstream market is not "buying it" and refinery sales have not improved. At the same time, as refinery prices have fallen step by step, local refineries have once again become the domestic price depression. Among them, taking the transaction base price of 93# gasoline in various regions as an example, the price of gasoline from Shandong local refineries differs by 651 yuan/ton from the base price of 9569 yuan/ton for the main business in the region.