Fuel Prices Set to Rise Again This Week, Marking Ninth Increase This Year

Deep News07-16 18:06

Domestic fuel prices are scheduled for another adjustment this Friday, July 17th, with an expected increase for gasoline and diesel.

Based on the domestic refined oil product pricing cycle, the 14th price adjustment window of the year will open at 24:00 on July 17th. Today marks the eighth working day of the current pricing cycle.

Latest forecasts indicate gasoline and diesel prices are expected to rise by 150 yuan and 145 yuan per tonne, respectively. Translated into retail pump prices, this equates to an estimated increase of 0.12 yuan per liter for 92-octane gasoline, 0.13 yuan per liter for 95-octane gasoline, and 0.12 yuan per liter for 0-grade diesel.

The current national average retail prices are approximately 7.16 yuan per liter for 92-octane, 7.65 yuan per liter for 95-octane, and 6.80 yuan per liter for 0-grade diesel.

The overall expected increase for refined oil products is around 250 yuan per tonne, which translates to roughly 0.18 yuan per liter. This adjustment will represent the ninth fuel price hike of the year.

Consumers are advised that prices are likely to rise on Friday evening. To save on travel expenses, drivers may wish to refuel their vehicles before the price adjustment takes effect at 24:00 on July 17th.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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