Refined oil price adjustment cycle is expected to shrink to 10 days

The new refined oil pricing mechanism that has been in operation for more than a year will undergo detailed adjustments. The reporter learned that relevant departments such as the National Development and Reform Commission have basically completed a new round of optimization evaluation of the mechanism.

In the latest evaluation opinion, we hope to shorten the 22-day price adjustment period to 10 days, and the 4% increase or decrease will be revised, and consensus has been reached internally. An expert who participated in the assessment told the reporter that in the next adjustment, the issue of lagging and overly transparent solutions to the pricing mechanism of refined oil products will become the top priority of the mechanism revision. "The general direction has been clear, that is, it must be more market-oriented, and gradually realize market pricing."

According to an insider of the National Development and Reform Commission, since the publication of the "Petroleum Prices Management Measures (Trial)", internal monitoring and evaluation has been conducted. There is no clear timetable for adjustments or adjustments in the near future.

The prevailing view is that although the “4%+22-day” pricing model has increased the transparency of refined oil pricing, it also has lagging and speculative behavior. Because of the shortening of the 22-day price adjustment cycle, changing the extent of international oil price changes has become the core content of the proposal. There is also a person in Shandong refining a company, said that the NDRC hopes that when the crude oil price is stable in a certain range, under the supervision of relevant departments, the decision-making power of price adjustment can be partially decentralized to the enterprise. To increase the autonomy of enterprises in the adjustment of oil prices. However, the reporter was informed that in the latest comments, the proposal for decentralization of pricing rights has been cancelled.