Shift in Outlook: Fuel Price Adjustment Update

Deep News
08/12

Two days remain until the price adjustment window closes at 24:00 on August 14th, as of August 12th.

The current pricing cycle for refined oil products began on August 3rd, encompassing a total of 10 working days for calculation. As of August 11th, seven working days have been completed, with three statistical days left.

At the start of the cycle, expectations for a fuel price reduction were gradually increasing, with the anticipated decrease rising steadily. However, recent international oil prices have rebounded sharply, causing the expected reduction to shrink.

The current estimate is for a reduction of 345 yuan per tonne for gasoline and 335 yuan per tonne for diesel. This translates to a decrease of 0.28 yuan per liter for 92-octane gasoline, and a decrease of 0.29 yuan per liter for 95-octane gasoline and 0-diesel fuel.

If international oil prices remain at elevated levels, the estimated reduction is expected to narrow further. It is important to note that the pricing cycle still has several statistical days remaining, and variables remain, with all final decisions subject to the official announcement from the National Development and Reform Commission.

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