Soaring crude oil pushes up gasoline prices in various countries The energy crisis is still fermenting

As of Oct.
22, WTI and Brent had risen to $83.
76 and $85.
53/b, respectively, the highest levels
in seven years.
Affected by this, the price of its downstream products has also skyrocketed, and gasoline prices in various countries around the world have reached new record highs
.

Asia

At 24 o'clock on October 22, China's refined oil price adjustment was cashed out as scheduled, and after the oil price increase, 95# gasoline in various regions of China basically entered the era of 8 yuan, and the cost of fuel for car owners will increase
again.
Taking gasoline as an example, with a fuel tank volume of 50 liters, a full tank of oil increases by 12.
5 yuan; taking diesel as an example, a diesel vehicle that runs 10,000 kilometers a month and consumes 40 liters of fuel per 100 kilometers increases the cost of about 500 yuan
.

Japan's gasoline prices have not been spared, because Japan's oil supply is almost entirely dependent on imports, so the rise in international oil prices has caused the price of Japanese petroleum products to rise
.
As of October 22, Japan's regular gasoline has risen for five consecutive weeks, rising to 160 yen per liter, equivalent to 9.
2 yuan, a new high in three years, up nearly 30%
from the lowest value after the outbreak.

The average price of gasoline in South Korea also hit a seven-year high, exceeding 1,700 won, equivalent to 9.
26 yuan, as of October 24, and the average price in Seoul rose to 1,800 won, equivalent to about
9.
80 yuan.
In this regard, South Korea's vice minister of planning and finance, Lee Yiyuan, said at a meeting that the government has decided to reduce South Korea's fuel tax for a limited time, and the details will be announced
this week.

In addition, gasoline prices in India, the world's third-largest oil consumer, have risen 23 percent since the beginning of the year and have reached 107 rupees per litre, equivalent to 9 yuan
, as of October 21.

Europe and America

Gasoline prices in the United States hit a seven-year high like South Korea, and as of Oct.
21, The national average gasoline price is $3.
36 per gallon, the highest since 2014; the average price of oil in Los Angeles County is $4.
50, the highest level since October 2012; the price of regular unleaded gasoline in California has reached $7.
59 per gallon, equivalent to 12.
8 yuan, more than double the national average, and the price of high-quality gasoline has reached $8.
50 per gallon, equivalent to 14.
37 yuan
.

The latest data released by the Office for National Statistics on October 20 showed that the price of gasoline in the UK soared 19% year-on-year in September, reaching 1.
35 pounds per liter, equivalent to 11.
86 yuan, the highest level in eight years
.
This also means that each tank of fuel costs an extra £10.
8, or about 95 yuan
, compared to the same period last year.

In addition to Asia, Europe and the United States, according to a statement from Venezuela's national oil company PDVSA, the Venezuelan government will raise the price of subsidized gasoline by 20 times
starting October 24.
This is the second time Venezuela has raised subsidized fuel prices since June 2020, when Maduro's government lifted a decades-long fuel price freeze to "ensure fuel production and distribution in the country.
"
However, even after a 20-fold increase, Venezuela's subsidized gasoline price is still the cheapest in the world, and the price increase will raise the price of fuel to 2.
3 cents per liter, equivalent to less than 0.
15 yuan
.

At present, the pain of the global energy crisis is still fermenting, and has extended to oil, natural gas, coal, power generation, chemicals, fertilizers and supply chain industries, because OPEC+ has no intention of significantly increasing crude oil production, so the trend of energy shortage and high prices is bound to continue into 2022
.