On July 23, the National Development and Reform Commission released a message saying that according to the recent changes in oil prices in the international market, according to the current formation mechanism of refined oil prices, domestic gasoline and diesel prices (standard products, the same below) from 24:00 on July 23, 2018. The price per ton was reduced by 125 yuan and 120 yuan respectively. The price increase was 92# gasoline and 0# diesel oil was lowered by 0.1 yuan.

Except for May 1, the price adjustment was the fifth downward adjustment of the oil price during the year due to the drop in the consumption price of the consumption tax. This year, it has experienced 8 upward adjustments, 5 reductions and 1 stranding.

It can be said that the downward adjustment of oil prices means that the fuel cost of the owner is reduced. For example, a small private car with a fuel consumption of about 8L per 100 kilometers is used as an example. It will be opened to the next price adjustment window (ie, at 24:00 on August 6, 2018). In the previous period, private car owners will spend less than 8 yuan on oil costs; in the logistics industry, the increase in oil cost is more obvious than that of private cars. It runs 10,000 kilometers per month, and the fuel consumption per 100 kilometers is 38L. Taile heavy trucks calculate that the fuel cost of a single car in the next half month will cost about 190 yuan.

Ma Jiancai, an analyst with Zhongyu Information Oil Products, said that in the international market, the recent trend of crude oil rebounded slightly, but market demand doubts still bear a negative for the oil market, and the recent trend will maintain a narrow consolidation. The new round of pricing period is initially expected to be lowered by RMB 70/ton, and market news is limited. At present, the main units are facing a certain amount of pressure, but considering the cost of external mining is high, some areas choose Poly, and the willingness to continue to cut prices is not high. It is expected that after the price adjustment is settled, domestic oil prices will remain firm, and some regions will have a small downward trend in stimulating shipments, but the downside is limited.

Meng Peng, an analyst of Zhuo Chuang Information Oil Products, said that in the next cycle, geopolitical pressures still worry the bulls, but the peak summer travel in North America has increased seasonal demand and will largely support oil prices. In the later period, the long and short game will continue, but the bottom of the oil price will be supported. The probability of oil price will pick up slightly, and the US crude oil will hit a high of 70 US dollars/barrel. It is expected that at 24:00 on August 6, the domestic retail oil retail price limit will be aground or slightly raised.