The price adjustment method of refined oil or adjustment of the three major oils to adjust the price automatically

When the international oil price fluctuates within a certain price range, the three major oil companies may automatically adjust the price according to the new mechanism. The relevant person disclosed to the China Securities Journal reporter a few days ago that, in addition to the new refined oil pricing mechanism that has been reported, the price will be reduced. After the cycle, accelerating the frequency of price adjustments, and adjusting the affiliated oil types, another change is that when the international oil price fluctuates within a certain price range, the relevant departments will no longer issue notifications for each price adjustment, but may be the three major oil companies. According to the new mechanism automatically adjust the price.

This person said that the so-called "automatic correspondence adjustment" means that once the price adjustment conditions in the new mechanism are met, the three major oil companies can announce their own price adjustments in line with the new mechanism's stipulated price without waiting for the relevant department's price adjustment notice. This will be important in the new mechanism. One of the changes.

He explained that in the above price range, when the domestic oil price meets the conditions for downward adjustment, the three major oil companies should lower their oil prices at the first time; when the domestic oil prices meet the conditions for upward adjustment, the three major oil companies can, based on the supply of gasoline and diesel in various regions, Choose not to raise oil prices or raise them modestly within the ceiling price.

The "Petroleum Prices Management Measures (Trial)" promulgated in May 2009 stipulates that when the average price of crude oil in the three markets of the international market changes continuously for more than 4% for 22 working days, the relevant departments can adjust the prices of refined oil accordingly. According to reports, in the new mechanism, the price adjustment cycle may be shortened to 10 working days.

According to industry insiders, although the current pricing mechanism stipulates the “22 days+4%” price adjustment condition, the specific parameters and calculation formulas that need to be referenced have not been publicly announced, and the agencies only make simulation calculations according to the formula they deduced. Not very accurate.

Analysts believe that in the future, the pricing formula for refined oil products will tend to be transparent. If the new mechanism is introduced, it will help straighten out the long-term decoupling of domestic and international oil prices, and relieve the oil shortage to some extent. The new mechanism will play a positive role in alleviating the oil company’s loss of refining sector. However, under the tendency of the international oil price to continue to rise, new mechanisms that are more in line with international oil prices may increase the frequency of domestic oil price increases.