Fuel Price Adjustment Approaching: Significant Drop in Projected Increase

Deep News
昨天

Domestic fuel prices are set for another adjustment in just two days. According to the refined oil product pricing rules, the next price change will take effect at 24:00 on September 24th. Influenced by the sharp surge in international oil prices during the first half of last week, the projected increase for this round had soared to 635 yuan per ton by last Wednesday. Fortunately, international prices have since reversed course and declined. With crude oil closing sharply lower again this morning, US crude settled at $95.78 per barrel, down 4.51%, while Brent settled at $100.34 per barrel, down 3.40%. This marks the fourth consecutive daily drop for international oil prices, trimming today's projected increase by another 40 yuan per ton. The statistical reduction in the price hike has now extended to five consecutive sessions, with the overall expected increase cooling by a total of 95 yuan per ton.

Thursday evening at 24:00 will bring the second adjustment for September. Despite the recent string of declines in international prices easing the projected hike somewhat, the current change rate for international crude oil still stands at a significant 9.32%. The estimated increase for refined products remains high at 540 yuan per ton. Based on this forecast, gasoline and diesel prices are expected to rise by approximately 0.41 yuan to 0.49 yuan per liter.

Looking back at price adjustments this year, 18 of the 25 scheduled adjustment windows have now been implemented, with a clear trend of more increases than decreases: 12 rises, 1 hold, and 5 drops. Cumulatively, gasoline and diesel prices have been raised by 1,980 yuan per ton and 1,905 yuan per ton respectively. Converted to per-liter terms, this translates to an increase of 1.58 to 1.69 yuan. For a standard 50-liter fuel tank, filling up now costs 79 to 85 yuan more than it did at the start of the year.

International oil prices have plummeted as market concerns over geopolitical conflicts in the Middle East have eased. Trading for the new week began on a weak note, with losses accelerating during intraday trading on the 21st. By the close, international crude oil futures had declined significantly. On that day, light sweet crude for October delivery on the New York Mercantile Exchange fell by $4.52 to settle at $95.78 per barrel, a drop of 4.51%. Meanwhile, Brent crude for November delivery on the London exchange declined by $3.53 to settle at $100.34 per barrel, a decrease of 3.4%.

According to reports from Iranian sources, the Iranian President's office announced on the 21st that President Pezeshkian would depart for the United States on the 22nd to attend the United Nations General Assembly. Additionally, Fox News reported on the 20th that US President Trump stated in a phone interview that the United States has maintained communication with Yemen's Houthi rebels, who have agreed not to engage in conflict with the US. Trump also hinted at a possible openness to meeting with Iranian President Pezeshkian during the UN General Assembly in New York. For the final outcome of this round of fuel price adjustments, the official announcement from the National Development and Reform Commission will serve as the definitive authority.

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