[백브리핑AI] Oil prices soaring despite government fuel tax cuts… SK Inno, S-Oil, GS Caltex’s highest performance ever

[인포스탁데일리=김현욱AI 앵커] Oil prices are skyrocketing.

The government is making all-out efforts to stabilize oil prices through successive oil tax cuts, but it is not the same.

Meanwhile, domestic oil refineries are achieving record-high performance.

There are even criticisms that domestic refiners are taking the benefits of the Yun Seok-yeol administration’s fuel tax cuts as it is.

According to Wise Report, a securities analysis company, SK Innovation is expected to record 22,613.3 billion won in sales and 1.81 trillion won in operating profit in the second quarter of this year.

Operating profit increased by 259% compared to the second quarter of last year.

S-Oil is also expected to post sales of 11,287.7 billion won and operating profit of 1.283.4 trillion won in the second quarter of this year.

Following the record-breaking first quarter, operating profit is expected to reach a maximum of KRW 1.7 trillion in the second quarter.

GS Caltex and Hyundai Oilbank are also expected to record similar earnings to the first quarter.

Refiners usually purchase crude oil three months in advance, refine it, and sell it to consumers.

Therefore, if the price of oil rises sharply as it is now, it can be sold to consumers by expanding the margin of imported crude oil at a low price.

In doing so, refiners can earn huge profits.

The problem is that with the three-month period, the margins work in favor of refiners like rubber bands.

For example, it is pointed out that when oil prices rise, the price is quickly reflected, and when oil prices fall, it is slowly reflected in oil prices and passed on to consumers.

The Yoon Seok-yeol administration expanded the rate of fuel tax cut from 30% to 37% in January.

Despite the expansion of the fuel tax cut, the national average oil price was maintained at 2,100 won, and it is a consumer reaction that the price cut was not reflected at all except for some thrifty gas stations.

Kim Hyun-wook AI anchor [email protected]

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