Oil Prices Are Set To Rise Significantly

 Recently, tensions between the United States and Iran have been high, and the situation in the Middle East remains tense. Due to the Middle East being the world's main oil-producing region, the tense geopolitical situation has led to a steady rise in international oil prices.

 On February 3, which is midnight tomorrow, there will be the last oil price adjustment before the long Spring Festival holiday. Based on the current international oil price trends, it is certain that domestic oil prices will be raised tomorrow night, and it will be a significant increase.

 Since oil price adjustments are made on a ten-day working week cycle, and the Spring Festival holiday is a non-working period, this means that after this price increase, the price will remain at this level for a relatively long period of time, until the next adjustment window on February 24th.

 According to calculations by Jinlian Chuang, as of the ninth working day on February 2, the average price of reference crude oil was $64.52 per barrel, with a change rate of 5.38%, resulting in a corresponding increase of 225 yuan per ton in domestic gasoline and diesel retail prices. When converted to per liter, the increase is about 0.18 yuan. The final increase will depend on the performance of international oil prices on the last working day.

 On January 20, domestic refined oil prices saw their first increase of 2026, with the price of 92-grade gasoline, 95-grade gasoline, and 0-grade diesel in my province increasing by 7 cents per liter. After the oil price increase tomorrow night, the price of oil will have seen a "double increase" this year. Currently, the retail price of 92-octane gasoline in our province is 6.75 yuan per liter, which means that after the price increase tomorrow night, the retail price will approach the 7 yuan mark.