Substantial Drop! Fuel Prices Set for Adjustment

Deep News06-26 22:21

According to the schedule for domestic refined oil price adjustments, the price adjustment window will open again at 24:00 on July 3rd. The statistical period for this round of price adjustments spans 10 working days, with four days having passed as of today. Based on projections from professional institutions, influenced by recent trends in international oil prices, the current crude oil change rate has reached -12.84%. This indicates an expected price reduction of 720 yuan per ton. Based on the current anticipated decrease, the prices for gasoline and diesel are projected to fall significantly by 0.55 to 0.65 yuan per liter. The final adjusted price for this round will be subject to the official announcement from the National Development and Reform Commission.

International Oil Prices Decline to Pre-Conflict Levels

International oil prices have continued their downward trajectory following the signing of a memorandum of understanding between the United States and Iran and the gradual restoration of navigation through the critical energy channel, the Strait of Hormuz. On June 25th, the price of London Brent crude oil briefly fell below $72.48 per barrel during trading, nearing levels seen on February 27th, the day before military strikes were launched against Iran by the United States and Israel. This marks the latest low point for international oil prices since the U.S. and Iran signed their memorandum of understanding on June 17th.

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On June 25th, the price of London Brent crude oil briefly fell below $72.48 per barrel during trading, nearing levels seen on February 27th, the day before military strikes were launched against Iran by the United States and Israel. 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