China will lower the prices of domestic refined oil products starting at midnight on June 4th.

This price adjustment follows a period of volatility in international crude oil markets, with prices declining after the last adjustment on May 21st before recovering somewhat recently. The average price over the ten working days preceding this adjustment is lower than the average over the ten working days before the previous adjustment.

Based on changes in international oil prices, the prices for standard gasoline and diesel will be reduced by 525 yuan and 505 yuan per tonne, respectively.

This translates to a saving of approximately 20.5 yuan for filling a standard 50-litre tank with 92-octane gasoline.