Fuel prices set to rise at midnight, marking the 18th adjustment of 2024.

Deep News12:01

The 24:00 deadline on September 11th will trigger the year's 18th fuel price adjustment. This follows a significant surge in international oil prices on September 9th, where New York Mercantile Exchange light sweet crude for October delivery jumped $3.02 to settle at $96.05 per barrel, a 3.25% increase. Simultaneously, London Brent crude for November delivery climbed $3.29 to close at $101.21 per barrel, marking a 3.36% rise.

This week's sharp rally in both international and domestic crude markets is largely attributed to an escalating risk premium driven by heightened geopolitical tensions in the Middle East, which have raised concerns about shipping risks through the Strait of Hormuz. Based on current calculations, gasoline and diesel prices are projected to increase by 160 yuan and 155 yuan per tonne, respectively. At the pump, this translates to an estimated rise of 0.13 yuan per litre for 92-octane gasoline, 0.14 yuan per litre for 95-octane gasoline, and 0.13 yuan per litre for 0-diesel.

After this adjustment, filling a standard 50-litre tank is expected to cost between 6.5 and 7 yuan more. Please note that these figures are only institutional forecasts, and the final adjustment will be subject to official announcements.

Stay tuned for fuel-saving tips.

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