Experts: Fuel tax reform will not use crude oil cost method

The fuel tax still hasn't appeared yet, but there are different versions of oil prices closely related to it. Our reporter yesterday contacted the experts of the petrochemical system and experts from the National Development and Reform Commission and learned that it is not feasible to set the maximum retail price of oil at the ex-factory price. "China will still introduce a relatively protective oil price, there will be no significant fluctuations, and it will not be adjusted too frequently. When the introduction of adjustments to oil prices, opportunities will be introduced simultaneously with the fuel tax," said a petrochemical system expert.
The oil giant's full-profits The two major oil giants, Sinopec and PetroChina, which have been losing their responsibilities in the past two months, have already farewell to their losses and are fully profitable. “Sinopec's refining breakeven point is about US$85 a barrel, and now international oil prices are in this position. It has been running for two months now," Yao Daming, minister of oil products of the Guangdong Oil and Gas Merchants Association, told reporters. In fact, the profit loss of the refinery is closely related to the international oil price. The profit of the refinery has been rising along with the sharp decline of the international oil price. Many refineries have also increased their output in the new situation.
Under this background, the domestic oil price will soon be introduced with the opportunity of fuel tax, and a new price adjustment will be heard. It is reported that the refined oil pricing mechanism in the future may be changed to the highest retail price based on the refinery ex-factory price; Different international oil price levels adopt different pricing plans. When specific operations are based on the price of international oil prices, the generally accepted breakeven point is US$80/barrel, when the international crude oil price is less than US$80/barrel, domestic refined oil prices and international prices The oil price is adjusted synchronously. When the international crude oil price is higher than 80 US dollars/barrel, the domestic refined oil price quota will be calculated based on the processing profit rate of the refinery.
However, our reporter contacted Zhou Dadi, a researcher at the National Energy Research Institute of the National Development and Reform Commission, and learned that this program was discussed as early as two years ago, namely the “Crude Oil Cost Law” and “The new pricing mechanism will not use the crude oil cost method,” Zhou Dadi told reporters. Frankly.
It is reported that the so-called crude oil cost method is to change the current calculation method for the refined oil prices in New York, Singapore and Rotterdam, and to calculate the oil price based on the crude oil prices of Brent, Dubai and Minas. Based on the factory ex-factory price, coupled with appropriate profit margins, the country's unified control of retail oil prices will be relaxed.
However, relevant experts said that this program has been brewing two years ago, and ultimately it has not been introduced, mainly because it cannot balance the interests of consumers. Yao Daming said that this plan is good for the two major groups. The risk of loss of the current oil giant is mainly from the refining chain. In the future, if the refinery ex-factory price is added to the appropriate profit, there will be no loss of the refinery.
Zhou Dadi believes that the key consideration now is to launch a flexible and flexible pricing mechanism for refined oil products. At the same time, the simultaneous reform of resource tax and fuel tax should be promoted so that oil prices can truly reflect the level of resource consumption.

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