The Beijing News (Reporter Jenny Chung) New York oil prices

The Beijing News (Reporter Jenny Chung) New York oil prices on the 23rd fell again, and hit a nearly seven month low, closing below $ 90 a barrel for the first time. Since May, the international oil prices continued to fall directly contributing to the rate of change of the three international oil prices continued to fall. According to the CBI, Treasure Island and the business community, a number of bodies to monitor the rate of change in international oil prices today will exceed 4%, but because of "abuses" of the current pricing mechanism, the adjusting period is too long, but also under the age of 22 days, at the end of the domestic refined oil prices are down temporarily hopeless. New York oil prices fell 15 percent this month at 23, New York WTI crude oil closed at $ 89.90 / barrel fell below $ 90, a record seven months since a new low. Since May 1, New York oil prices fell in 14 sessions in 17 days, compared to the beginning of $ 106.16 a barrel, has fallen 15 percent. Business community monitoring data show that up to 23 days and three to 5 oil change rate of -3.54%, based primarily on the U.S. crude oil inventories the highest in 22 years, turmoil in the euro area, and Iran came optimistic message to the oil pressure on crude oil prices fell. Click here to estimates, such as international crude oil prices to maintain the downward trend as soon as today, three crude oil movement rate of change will exceed 4%, the CBI and the Treasure Island and other monitoring bodies, business community of refined oil analyst Li The data also show that the rate of change in international oil prices today will break -4%. Yesterday, the New York oil prices opened slightly as of reporters press quoted at $ 90.57 a barrel. CBI analysts said, not relieved of the debt crisis in Europe, the international oil prices, there are still downside is likely to continue down the rate of change of the three international oil prices, June 8, domestic oil prices down window opens the possibility remains big. Domestic oil prices, "embarrassed," wait, the domestic refined oil prices can be adjusted in accordance with the provisions of Earlier Development and Reform Commission, when international oil prices for 22 days moving rate of change of 4%. A domestic refined oil prices had adjusted to the morning of May 10, this also means that in the June 8 in order to meet the 22 working day cycle requirements, when the domestic price of oil down the window to open. "Although the rate of change of -4%, but the 22 working day limit, the price adjustment window failed to open embarrassment to wait for lower prices facing." Li said. This awkward waiting for is the people most familiar with up domestic oil prices with the fall "or" rose more or less ", the international oil prices also rose, but the fall in international oil prices, domestic oil prices are not necessarily fall. Prior to the Development and Reform Commission said in response to this problem, comprehensive after international oil prices, the performance of the overall trend is rising, so the up more or less "is inevitable. "In fact, this is a typical problem of the pricing mechanism, the adjusting period, domestic oil prices become not be able to follow changes in international oil prices to make adjustments, the Development and Reform Commission is also aware of the problem, that is, to shorten the adjusting period, if the cycle is shortened to 10 days or so In accordance with the present situation, the domestic oil prices at the end can be reduced. "a market analyst, told reporters. Market participants had expected, according to the current decline in international oil prices, the domestic oil prices fell by about 500 yuan per ton, together gasoline of about 0.4 yuan per liter. questions about why the new mechanism has not introduced Well known to the public 22 days +4% "pricing mechanism implementation in 2009, early in the 2010 Development and Reform Commission recognized that the problems of the pricing mechanism to adjust the long cycle, for example, the fall in international oil prices, domestic oil prices slow down the speed. cause "with the follow up not down"; In addition, long cycle and social stockpile of oil companies, but also easy to facilitate. Development and Reform Commission has also repeatedly stressed the need to reduce the price adjustment cycle, the last position in March of this year. Since the new mechanism is beneficial to alleviate public dissatisfaction with the current pricing mechanism, why the delay in the introduction of it CBI oil analyst Liao Shun said, this time oil prices fell due to short-term factors such as the debt crisis in Europe caused by international oil prices has been down is difficult to predict oil prices are likely to turn around and up. If the mechanism for the introduction of international oil prices and rapid rise, which means that the cycle of domestic oil price increases will be shortened, the frequency will be accelerated, so high oil prices is clearly domestic acceptance not yet been reached. Previously, the NDRC also said the timing of the introduction of lower oil prices. Prior to the international price of oil fell to $ 80, but have since continued to rise, pricing mechanism has not been able to introduction. (Jenny Chung)