The Price Adjustment Of The National Development And Reform Commission Is "Going Up Or Down" And Gradually Marketization.

Since the implementation of the new deal, every time the oil price adjustment has been approaching the price adjustment window,

The national development and Reform Commission is speeding up the construction of the pricing mechanism for refined oil products.

Recently, in

"Although this is good news, what we need now is more concrete actions than simple slogans."

Yesterday, in an interview with reporters, Cui Xinsheng, chief researcher of China's value index, said, "to change a way of thinking, to a certain extent, reflects the inextricable connection between SINOPEC and the national development and Reform Commission."

Effect already

In fact, the pricing mechanism for refined oil products

These suggestions are aimed at the implementation of the "oil price management measures" promulgated by the national development and Reform Commission in May 8th.

The most important content is that when the international market crude oil moves continuously for 22 working days, the average price changes exceed 4%, and the domestic refined oil prices can be adjusted accordingly.

However, every time the price adjustment has been implemented since the implementation of the new deal, or every time the price adjustment window is approaching, there will be doubts in the market.

Even in the eyes of many people, the price adjustment of the NDRC "rises or falls" or "rises or falls".

"The NDRC has been pushing ahead with the construction of the refined oil system, and our overall trial results are good."

Yesterday, Lin Boqiang, director of the China Energy Economics Research Center, who participated in the national development and Reform Commission's seminar, told reporters: "first of all, compared with the horizontal tariff reform, China's oil pricing mechanism has been relatively market-oriented. Secondly, although some industries and consumers are greatly affected, they are generally acceptable to all parties. For example, the two major oil giants maintain a good profit, and the oil price war is also actively taking place." in,

Continue to improve

However, in the industry view, there are still a lot of ambiguities in the "measures".

The pricing mechanism is not pparent enough, that is, the two indexes of the average processing cost and the appropriate profit of the domestic refined oil are widely criticized by the market participants. In addition, there is a dispute over the reference frame, which is exactly how to implement the 4% international price adjustment standard.

"There is indeed room for improvement."

Lin Boqiang admits that first of all, we can appropriately shorten the magnitude of 4%, so that the market can more sensitively reflect the changing trend of international oil prices and domestic oil prices. Secondly, shortening the time of price adjustment can shorten the original 22 days to 10 days.

Cui Xinsheng suggested that the NDRC now needs to solve the strategic problem, that is, in the reform of the refined oil pricing mechanism, determine what to change first and what to change later.

"More important is flexibility."

First, he can not apply mechanically to the pricing mechanism of other countries, he can only learn from it; second, he should reflect the changes of the international crude oil market flexibly, and formulate a pricing mechanism that can take care of the interests of all parties, combined with the national conditions of China.

For pparency, Lin Boqiang said, "it's still hard to deal with it for the time being.

Because too pparent, it is easy to lead to speculation, but on the refined oil pricing mechanism reform has a negative impact.

The investment analysis and forecast report of China's refined oil market in 2010 -2015 released by CIC pointed out that although the price of China's refined oil can not be fully integrated with international oil prices, the pricing mechanism can be "integrated".

The report also pointed out that the gradual marketization of refined oil prices is an irreversible trend, and the open and pparent pricing rules for refined oil products are "consumers' common expectations".

Although the pricing mechanism is pparent, it is easy to hoarding speculation, but this is the inevitable situation of the market economy. And in the face of the current opaque pricing mechanism of oil products, hoarding speculation exists as well.