Morning Update: Fuel Price Adjustment Shifts, Here's the Latest in Tianjin

Deep News
2 hours ago

Fuel prices are always unpredictable, and the worst-case scenario is filling up your tank only to see prices drop shortly after. On September 2nd, international oil prices climbed. By the close of trading that day, light crude for October delivery on the New York Mercantile Exchange rose 79 cents to settle at $91.01 per barrel, an increase of 0.88%. Meanwhile, Brent crude for November delivery on the London exchange gained 98 cents, closing at $95.63 per barrel, up 1.04%.

The next fuel price adjustment is scheduled for 24:00 on September 11th. At the start of this pricing cycle, there were signs pointing to a possible decrease, but the recent sharp surge in international crude prices has flipped expectations from a cut to an increase, with the projected hike continuing to widen.

Under the 10-working-day statistical cycle for fuel pricing, the continued rise in international oil prices on September 2nd has pushed the current crude oil change rate to 2.01%. This translates to an anticipated increase of 100 yuan per tonne in fuel prices. Based on this projected rise, gasoline and diesel costs are expected to go up by approximately 0.08 yuan to 0.09 yuan per liter.

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