Research On The Formation,fluctuation And Market Control Policy Of Refined Oil Price In China

As "one belt one rode” policy of the national economic development strategy is put forward and gradually implemented,China's economic opening breadth and depth is increasing,the domestic refined oil prices will also reinforce the influence on China's macro economy.Especially for a country like China the biggest developing country,oil consumption of the external dependency is as high as 65% or more,the international oil price fluctuations and continuous fluctuation in the domestic refined oil prices impact ing on China's oil security and economic security are various and multi-level.Therefore,the research of China's refined oil price formation? fluctuation and regulation policy subject,will not only conforms to the need of current economic development situation,also conforms to the needs of the reform of marketization of China's refined oil pricing mechanism,under the complicated background of low world economy and China's economy going into the moderate development,for the sustainable development of China's economy and the implementation of the " one belt one rode” strategy of economic development it also has important theoretical significance and practical significance.This paper defined research background and based on the basis of domestic and foreign research,the purpose is to analyze the forming process of the refined oil price in our country,to explore the characteristics and influencing factors of the price fluctuation of refined oil products,and to improve the market control policy of refined oil prices.By means of system analysis,literature analysis and data investigation,combination of theory and practice,and empirical analysis.Based on the relevant theories,we draw on the relevant achievements of scholars at home and abroad to carry out research.Work as follows:Firstly we reviewed the history of development of China's product oil pricing mechanism,points out that the development of the refined oil pricing mechanism in China has experienced four stages: the single pricing stage,double-track pricing system stage,the international market linkage stage,indirect connected with control stage.This paper analyzes the current situation of the development of China's refined oil pricing mechanism,and points out the existing problems on the basis of affirming the direction of the reform of the pricing mechanism of refined oil products.Namely,the current pricing mechanism of petroleum products is not scientific and objective;which cannot reflect the change of market supply and demand authentically;Non-cost factors are too high.Secondly,in order to do further analysis of these problems,the author,from the industrial structure theory,carries on the analysis for our country product oil industry market structure,market conduct and market performance of three aspects.Prove that compared with the famous international oil companies,China's two major oil companies,low efficiency of the allocation of resources,poor technical configuration efficiency and return on capital to decline year by year,scale economy level gap is big,obviously at a disadvantage in the international competition.In particular,this market structure has become the shackle of China's oil price system reform.Therefore,the market-oriented reform of refined oil products must reform the existing petroleum industry structure,break up the monopoly and promote competition,so as to ensure the smooth progress of the reform.Thirdly,from the point of view of the marketization of oil price reform,the components of oil price are analyzed.According to 2005 to 2016,the change of gasoline prices,using seasonal adjustment model and HP filter decomposition model of product oil price fluctuation has carried on the empirical research,analyzed the characteristics of cyclical fluctuations in the price of its cycle,then analyses the factors to lead to fluctuations in the price of the finished product,including oil characteristics,financial attributes,geopolitics and the supply and demand and so on,which is based on the characteristic of oil price fluctuations for the first time I put forward a new point of view,and then analyzed the refined oil price fluctuations on China's gross domestic product(GDP),the influence of price index and trade.Fourthly,I will introduce the oil price system and policy of some typical countries.The analysis goes through the comparing with the successful experience and some typical practices of countries with high dependence on foreign oil consumption such as the United States,Japan,South Korea and Europe.It is of great significance and reference value for China to realize the marketization of oil product pricing,and reduce the impact of international oil price.Finally,the paper analyzes China's product oil pricing reforming,and from the unique perspective,I put forward a series of constructive measures and suggestions on China's refined oil price reform goal,refined oil price adjustment steps and refined oil price regulation policy.Such as strengthening legislation,the establishment of independent oil and petroleum product diversity competition regulators,to strengthen the refined oil market,improve the petroleum tax system,set up petroleum fund,improve the oil futures market;strengthen the oil reserves in all aspects,to speed up new energy development and utilization,and so on.