At 24:00 this morning (April 28th), domestic refined oil products will enter the price adjustment window. It is expected that this price adjustment will lead to a decrease in domestic finished oil prices, with an expected reduction of around 140 yuan per ton, equivalent to a decrease of 0.11 yuan per liter for 92 # gasoline and 0.12 yuan per liter for 0 # diesel. The May Day holiday is the peak time for everyone to use their cars, and for private car owners, traveling during the holiday can save a bit. If your car still has fuel in its fuel tank, it's better to wait for the oil price to drop before refueling.

International oil prices: As of yesterday's crude oil close, the price of light crude oil futures for June delivery on the New York Mercantile Exchange fell by $2.77 to close at $74.30 per barrel, a decrease of 3.59%; The London Brent crude oil futures for June delivery fell $3.08 to close at $77.69 per barrel, a decrease of 3.81%.


In 2023, the retail price limit of domestic refined oil products has undergone 8 adjustments, including 3 increases, 3 decreases, and 2 runs aground. After offsetting the rise and fall, the prices of gasoline and diesel have increased by 370 yuan and 355 yuan per ton, respectively.

In terms of wholesale prices of domestic refined oil products: In the wholesale market, due to the expected decrease in retail prices of gasoline and diesel, downstream businesses have a strong wait-and-see attitude. In addition, sales units are reducing prices and promoting sales towards the end of the month, and recent wholesale prices of gasoline and diesel have continuously fallen from their previous high levels. According to the wholesale prices of Chinese gasoline and diesel jointly released by China Economic Information Society, China Petroleum Economic and Technological Research Institute, and Shanghai Petroleum and Natural Gas Trading Center, on April 26, the average wholesale prices of 92 # gasoline and diesel (including low pour point) nationwide were 9047 yuan/ton and 8008 yuan/ton, respectively, a decrease of 180 yuan/ton and 192 yuan/ton compared to April 18 (the first working day after the previous round of significant increase in finished oil prices).

Looking ahead to the future, although recent macroeconomic concerns have dragged down oil prices, in May, OPEC+multiple oil producing countries have voluntarily reduced production and entered the execution period, leading to a tightening of oil supply. Major consumer countries such as the United States have entered the peak driving season, and oil demand may strengthen seasonally. The fundamentals of the crude oil market still have some support, and it is expected that there is limited room for oil prices to decline.