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Domestic oil prices may usher in the 8th increase this year.

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ME News: On May 20 (UTC+8), at 24:00 on May 21, the domestic refined oil pricing adjustment window will open again. According to China Business News, institutions expect that, due to international crude oil prices falling first and then rising during this adjustment cycle, refined oil prices will see the 8th increase of the year. According to JLC estimates, as of May 20, the average price of reference crude oil varieties is 105.09 USD per barrel, and the domestic retail prices of gasoline and diesel are expected to be raised by 110 yuan per ton. Taking 92# gasoline as an example, the price increase per liter is about 8 cents. “There is 1 working day left before the adjustment window opens; this refined oil retail limit price increase is already a highly likely event, and the final magnitude may exceed 100 yuan per ton.” Sungreat Information analyst Wang Luqing said that the expected increase per liter for 92# gasoline and 0# diesel is around 9 cents. Filling a 50-liter tank of 92# gasoline is expected to cost about 4.5 yuan more. Longzhong Information refined oil analyst Liu Bingjuan also predicted that at 24:00 on May 21, the domestic refined oil increase will be around 90 yuan per ton. Calculated using a 70-liter fuel tank, private car owners will spend about 5 yuan more to fill up. (Jin10) (Source: ODaily)
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