11月20日【油价下跌】一夜崩落，原油大降超2.1%，全国92,95号汽油“预跌0.85%”，4天后调价，油价变跌中

Core Viewpoint - The recent adjustment in fuel prices marks the end of a four-month decline, with gasoline prices increasing by 125 yuan and diesel by 120 yuan per ton, leading to a rise of approximately 0.1 to 0.11 yuan per liter at gas stations across various regions [1][3]. Price Adjustments - The latest price adjustment occurred on November 10, with gasoline and diesel prices rising after three consecutive increases in July [1]. - Current prices for 92 gasoline in Beijing are at 6.94 yuan per liter, while in Shandong, it is 6.91 yuan, and 95 gasoline is around 7.4 yuan per liter [1]. Historical Context - Since the beginning of the year, there have been 22 price adjustments, with 9 decreases and 7 increases, resulting in a cumulative decrease of 620 yuan per ton for gasoline and 595 yuan per ton for diesel [3][5]. - The average price of gasoline has dropped by approximately 0.49 to 0.52 yuan per liter, while diesel has decreased by nearly 0.5 yuan per liter [3]. Market Trends - The current oil price cycle, which began on November 11, is expected to see a new adjustment on November 24, with the market currently showing a negative change rate for crude oil [3][5]. - Recent fluctuations in international oil prices have seen WTI crude hovering between 58 to 61 USD per barrel, while Brent crude is between 62.7 to 65.2 USD per barrel [3][5]. Supply and Demand Factors - Concerns over the U.S. economic outlook and a potential decrease in energy demand have contributed to the decline in oil prices, alongside an increase in U.S. crude oil inventories [5]. - The market is also facing worries about oversupply due to OPEC's plans to increase production in December [5].