Xinhua News Agency Approved Petrochina Petrochemical Prices Remain Strong In The Tide.

Since the beginning of April, the maximum retail price limit of domestic refined oil has not been adjusted yet. However, under the action of invisible hand, many private gas stations have started to reduce prices.

In this price cut tide, the reporter found that there are few PetroChina and Sinopec two groups of gas stations.

As the two most important protagonists in China's oil products market, why are the two giants always trying to seize the price of "rising the clock" instead of being so slow?

Private gas stations launched "price cuts"

Since June, the domestic supply and demand situation of refined oil seems not to be as tense as expected.

Recently, under the condition that the oil price adjustment window has not yet been opened,

Reporters learned that in eastern, North China, Southern China and Northeast China and other parts of the private gas stations and some state-owned gas stations, oil prices have different degrees of discounts.

On behalf of No. 93 gasoline, the price of gasoline at Baoshan District gas station, Bao Liu, No. 93, located at Baoshan District, Shanghai, is 7.35 yuan / liter, which is 0.44 yuan / liter lower than the highest retail guidance price (7.79 yuan / liter) of gasoline prescribed by the state.

Located at Chaoyang District, Beijing, Hercules petrol station No. 93 gasoline price is 7.2 yuan / liter, which is 0.65 yuan / liter than the maximum retail guidance price of Beijing gasoline (7.85 yuan / liter) prescribed by the state.

In addition to private gas stations, CNOOC, Sino French joint venture, Sinochem Total and other large state-owned and foreign-funded petrol stations are also involved in the price reduction.

The CNOOC No. 93 gas station in Ji'nan, Shandong, is priced at 7.1 yuan / ton, which is 0.4 yuan cheaper than the state's highest retail guidance price in Shandong province (7.5 yuan / liter). The price of petrol at 93 stations in Yang Yong two station of CNOOC in Guangdong province is 7.21 yuan / liter, which is 0.52 yuan / liter than the highest retail guidance price in Guangdong (7.73 yuan / litre) stipulated by the state regulations. The 93 gasoline price of the Wen Rui petrol station in Shanghai Minhang District Caobao Road is 7.39 yuan / liter, which is lower than the highest retail guidance price stipulated by the state.

If the average fuel tank capacity of a private car is 50 litres, it will be twenty or thirty yuan cheaper to fill a gas tank at a discount gas station than a "two barrels of oil" gas station.

Wholesale prices fall to provide conditions for price cuts.

The loosening of the prices of private gas stations is not a loss of profits.

Over the past few years, the international crude oil prices have remained calm and the domestic refined oil demand has been sluggish, making the wholesale market of oil products sluggish, and wholesale prices continue to go down.

Since April 7, 2011, the domestic retail price of gasoline and diesel has not been moved for more than three months. During this period, international crude oil prices have experienced a roller coaster ride.

The price of WTI crude in New York dropped from $115 a barrel to $90, and the price of London Brent crude dropped from $125 a barrel to $105.

In the past month, the Greek bailout plan has progressed smoothly, and other factors have helped the world's two major benchmark oil prices return to a slow upward trend, but at the beginning of the year it was irresistible.

The decline in international crude oil prices has led to a corresponding decline in domestic crude prices, which are based on international pricing.

Reporters learned from domestic refineries that compared with May, the domestic crude oil settlement price has fallen more than 300 yuan / ton in the two months of June and July, which has really reduced the cost burden for refineries.

Among them, Daqing crude oil settlement price (including tax) dropped by 341 yuan / ton, a decrease of 5.2%, and the settlement price (including tax) of Shengli crude oil fell by 351 yuan / ton, a decrease of 5.8%.

The decline in crude oil prices, coupled with the impact on domestic refined oil

As of July 21st, the national average price of 93 gasoline was 9109 yuan / ton, a decrease of 270 yuan / ton compared with June 1st, and the average price of diesel No. 0 in the whole country was 8298 yuan / ton, which was 138 yuan lower than that in June 1st.

The wholesale price of refined oil has been in the doldrums for the past two months, which has reduced the cost of petrol stations and provided the basis for its sales promotion.

Two big gas station prices remain strong and puzzling.

In the gas stations that cut prices, reporters found that there were few images of PetroChina and Sinopec.

In addition to the location of the suburban petrol stations, most of the two major gas stations are selling gasoline and diesel at the highest retail price in the country.

A reporter from a PetroChina gas station in Pudong New Area, Shanghai, saw that although there was no discount sale, because of its good geographical location, there were quite a lot of vehicles coming here.

Shanghai taxi driver Yang told reporters that private gas stations have discounted promotions, but the quality of oil products is difficult to guarantee, and often appear a phenomenon of giving up weight and weight.

In addition, compared with the gas stations of the two big groups, private gas stations often have a rather partial position, and some owners are reluctant to go for a long way to go.

China's current pricing mechanism for refined oil products is the highest retail guidance price at each price adjustment, that is, the retail price of gasoline and diesel can not be higher than the price prescribed by the state. However, most petrol stations in the country regard this guidance price as the retail price for implementation.

"When the country does not adjust the maximum retail price limit, the gas station can completely adjust the price of gasoline and diesel according to the changes in the supply and demand market."

Feng Zhen, manager of East oil and gas network oil department, Energy Research Institute, told reporters that the demand for gasoline and diesel in China is still very weak, and there is still some room for decline.

This means that there is still room for gas stations to reduce prices.

Against this background, the price of gas stations in the two major groups continues to be strong, which is hard to understand.

Guo Haitao, an associate professor at the 10.63,0.03,0.28% School of business administration, believes that the price adjustment of domestic refined oil products is difficult to meet in the short term as the current price adjustment cycle of the refined oil pricing mechanism is too long.

The two big oil companies are so careful about their actions that they fully expose their reaction to consumers' interests.