How is oil price calculated?
Recently, international oil prices have fluctuated frequently, and domestic oil price adjustments have also attracted widespread attention. Many consumers are curious, how are oil prices calculated? This article will analyze the composition and calculation methods of oil prices based on hot topics in the past 10 days.
1. Domestic oil price adjustment mechanism
my country's oil price adjustment follows the principle of "one adjustment every ten working days" and mainly refers to the rate of change of international crude oil prices. When international oil prices change beyond a certain range, domestic oil prices will be adjusted accordingly. The following is the international crude oil price data in the past 10 days:
| Date | Brent crude oil (USD/barrel) | WTI crude oil (USD/barrel) |
|---|---|---|
| 2023-11-01 | 85.2 | 81.5 |
| 2023-11-05 | 86.8 | 83.1 |
| 2023-11-10 | 84.3 | 80.7 |
2. Components of oil prices
Domestic refined oil prices mainly consist of the following parts:
| components | Proportion | Description |
|---|---|---|
| Crude oil cost | 40%-50% | International crude oil purchase cost |
| Refining costs | 15%-20% | The cost of processing crude oil into refined oil products |
| transportation sales | 10%-15% | Logistics and sales costs |
| taxes | 30%-35% | Including consumption tax, value-added tax, etc. |
3. Recent oil price hot spots
1.OPEC+ production reduction policy: Recently, OPEC+ announced that it will maintain its production reduction policy, leading to a short-term rise in international oil prices.
2.geopolitical impact: Tensions in the Middle East have triggered market concerns about crude oil supply.
3.New energy alternative: The popularity of electric vehicles is accelerating, which may affect crude oil demand in the long term.
4. Oil price calculation example
Taking No. 92 gasoline as an example, assume:
| Project | Amount (yuan/liter) |
|---|---|
| Crude oil cost | 3.50 |
| Refining costs | 1.20 |
| transportation sales | 0.80 |
| consumption tax | 1.52 |
| value added tax | 0.78 |
| total | 7.80 |
5. Forecast of future oil price trends
According to recent market analysis:
| institution | Forecast to the end of 2023 (USD/barrel) |
|---|---|
| Goldman Sachs | 90-95 |
| Morgan Stanley | 85-90 |
| UBS | 88-93 |
Taken together, oil price calculation is a complex process that is affected by many factors. When consumers pay attention to changes in oil prices, they must understand not only the dynamics of the international crude oil market, but also the domestic pricing mechanism. As the global economic situation changes and energy transformation accelerates, oil price fluctuations may become the new normal.
It is recommended that car owners respond to oil price fluctuations in the following ways: pay attention to the price adjustment cycle, reasonably plan refueling time, consider energy-saving driving methods, or choose alternatives such as new energy vehicles.
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