Drivers Alert: Fuel Price Hike Confirmed As Crude Oil Surges On Geopolitical Tensions

Deep News05:20

Drivers should take note and fill up their tanks as soon as possible. The 18th fuel price adjustment of the year is set to take place at 24:00 on Friday, September 11th. This adjustment is driven by a rapid increase in risk premiums within the crude oil market, fueled by escalating geopolitical conflicts in the Middle East and heightened shipping risks in the Strait of Hormuz.

This week has witnessed a substantial surge in both international and domestic crude oil prices. As of the 8th working day of the calculation period, it is projected that gasoline and diesel prices will increase by 280 yuan per ton and 270 yuan per ton, respectively.

When translated to terminal retail prices at gas stations, this means an estimated increase of 0.22 yuan per liter for 92-octane gasoline, 0.24 yuan per liter for 95-octane gasoline, and 0.23 yuan per liter for 0-diesel. Following this adjustment, filling a standard 50-liter tank will cost drivers an additional 11-12 yuan.

The final adjustment price for this round will be announced by the National Development and Reform Commission (NDRC). It is crucial to note that the increases mentioned here are only institutional forecasts and predictions; the final adjustment magnitude is subject to official release.

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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The 18th fuel price adjustment of the year is set to take place at 24:00 on Friday, September 11th. This adjustment is driven by a rapid increase in risk premiums within the crude oil market, fueled by escalating geopolitical conflicts in the Middle East and heightened shipping risks in the Strait of Hormuz.<br><br>This week has witnessed a substantial surge in both international and domestic crude oil prices. As of the 8th working day of the calculation period, it is projected that gasoline and diesel prices will increase by 280 yuan per ton and 270 yuan per ton, respectively.<br><br>When translated to terminal retail prices at gas stations, this means an estimated increase of 0.22 yuan per liter for 92-octane gasoline, 0.24 yuan per liter for 95-octane gasoline, and 0.23 yuan per liter for 0-diesel. 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