Price Adjustment: Oil Rates Set to Change

Deep News
Aug 12

The two-day countdown to the August 14th 24:00 price adjustment window has begun, as of August 12th. The current pricing cycle for refined oil products started on August 3rd, spanning a total of 10 statistical working days. By August 11th, seven of those days had been completed, leaving three remaining.

At the start of the cycle, expectations for a price reduction were growing, with the projected decrease steadily climbing. However, recent strong rebounds in international oil prices have caused the anticipated reduction to shrink. Current estimates suggest a decrease of 345 yuan per ton for gasoline and 335 yuan per ton for diesel. This translates to a drop of 0.28 yuan per liter for 92-octane gasoline, and a 0.29 yuan per liter decrease for 95-octane gasoline and 0-diesel. If international oil prices continue to hold at their current high levels, the projected reduction is expected to narrow further. It is important to note that several statistical days remain in the pricing cycle, leaving room for variables. All final adjustments will be based on official announcements from the National Development and Reform Commission.

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