Car owners, note: Adding 1 tank of fuel will cost 7 yuan more. Fuel prices will increase tonight.

Domestic refined oil prices experience three consecutive increases.

On February 24, the National Development and Reform Commission announced that starting from 24:00, domestic gasoline prices and diesel prices will be increased by 175 yuan/ton and 170 yuan/ton, respectively. Converted to per-liter prices, 92-octane gasoline, 95-octane gasoline, and zero diesel will each rise by 0.14 yuan, 0.15 yuan, and 0.14 yuan.

Public self-driving commutes and travel expenses will therefore increase further. For example, filling a 50-liter tank in a small private car will cost about 7 yuan more than before; in the logistics industry, for a heavy-duty truck that runs 10,000 kilometers per month with a fuel consumption of 38 liters per 100 km, the fuel cost per vehicle will increase by approximately 231 yuan.

After this round of price adjustments, most regions across the country see diesel prices between 6.7-6.9 yuan per liter, and retail prices for 92-octane gasoline are between 7.0-7.1 yuan per liter.

During this pricing cycle, international crude oil prices have risen, and domestic crude oil change rates have remained within a positive range.

Xu Lei, a refined oil analyst at Zhuochuang Information, told Jiemian News that geopolitical tensions have led risk premiums to dominate international crude oil trends, pushing prices to nearly six-month highs, while fundamentals have limited impact on crude oil.

On February 23, WTI crude oil prices briefly reached $67.28 per barrel, and Brent crude oil peaked at $72.04 per barrel.

As of early morning Beijing time on February 24, WTI front-month futures closed down 0.26%, at $66.84 per barrel; Brent front-month futures closed down 0.21%, at $71.65 per barrel.

The next round of refined oil price adjustments is likely to be an increase.

Xu Lei stated that the recalculated crude oil change rate remains positive at the start, indicating an upward expectation for retail refined oil price adjustments.

He explained that the market continues to focus on Middle East geopolitical negotiations, awaiting further guidance from news developments. However, crude oil prices are at a stage-high, and geopolitical uncertainties along with declining oil inventories still support higher prices.

Longzhong Information crude oil analyst Li Yantong also believes that there is a high probability of an upward adjustment in the next refined oil price cycle.

Li Yantong said that although the US and Iran will hold another round of talks, market concerns about potential conflicts between the two remain. Additionally, there has been no substantial progress in Russia-Ukraine negotiations, and geopolitical factors still provide support.

According to CCTV News on February 24, a new round of negotiations between the US and Iran will be held in Geneva, Switzerland, on February 26. An informed source revealed on the 23rd that US Special Envoy Wittekov and Jared Kushner, Trump’s son-in-law, will also participate in the talks.

The US military is also actively deploying assets, with the aircraft carrier USS Ford arriving at a key base in the Eastern Mediterranean, and multiple US military aircraft landing at Ben-Gurion Airport in Israel. The US State Department has officially announced the beginning of “evacuation” operations in Lebanon.

Domestically, Chu Yingbin, a refined oil analyst at Longzhong Information, told Jiemian News that post-holiday, the travel radius of the public has shortened, gasoline demand has returned to normal, and after replenishing terminal needs, the market is observing and waiting, with gasoline prices expected to decline.

Regarding diesel, downstream infrastructure and logistics are gradually resuming operations after the holiday, and demand is expected to recover somewhat. However, due to the overall economic environment, diesel prices are expected to remain stable with only slight increases.

Based on the current refined oil price adjustment cycle, the next adjustment window will open at 24:00 on March 9.

(Source: Jiemian News)