Shift in Outlook: Oil Price Adjustment Update

Deep News
Aug 12

Scheduled for August 14 at 24:00, the price adjustment window is now just two days away, as of August 12.

The current pricing cycle for refined oil products began on August 3, spanning a total of 10 working days. As of August 12, eight of these days have been completed, leaving two remaining for calculation.

At the start of the cycle, expectations for a price cut on gasoline and diesel were steadily increasing, with the reduction amount climbing higher. However, recent international oil prices have rebounded sharply, causing the anticipated decrease to shrink.

Currently, it is estimated that gasoline and diesel prices will drop by 345 yuan per tonne and 335 yuan per tonne, respectively. This translates to a reduction of 0.28 yuan per liter for 92-octane gasoline and 0.29 yuan per liter for 95-octane gasoline and 0号 diesel.

If international oil prices remain elevated, the forecasted reduction may narrow further. With several statistical days left in the pricing cycle, uncertainties remain. All final adjustments will be based on the official announcement from the National Development and Reform Commission.

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