5 yuan's oil price was 20 16. Affected by the recent collapse of global oil prices, domestic refined oil prices ushered in a sharp drop. According to the National Development and Reform Commission, starting from 24: 00 on June 7, 2016, No.9 gasoline was adjusted from 5.92 yuan per liter to 5. 15 yuan, a decrease of 0.77 yuan, and No.92 gasoline was adjusted from 6.32 yuan per liter to 5.50 yuan, a decrease of 0.82 yuan. No.95 gasoline was adjusted from 6.73 yuan per liter to 5.86 yuan, a decrease of 0.87 yuan; No.0 diesel oil is adjusted from 5.98 yuan per liter to 5. 13 yuan, which is 0.85 yuan lower.

The reason why oil prices entered the 5 yuan era

On March 6th, the negotiation of a new round of production reduction agreement between Saudi Arabia and Russia broke down, pushing the international oil price to the abyss. The domestic oil price level mainly depends on the trend of crude oil price in the international market. Judging from the past ten working days, the international oil price has fallen sharply, and the average level has fallen below the lower limit of 40 dollars per barrel, which is also commonly known as the floor price. Domestic refined oil prices will be substantially lowered to the corresponding crude oil price of $40 according to the mechanism, and the part below $40 will not be lowered.