Fuel Prices Poised for Significant Upward Adjustment at End of August

Deep News08-26 16:00

Motorists should take note that domestic refined oil product prices are scheduled for an adjustment at 24:00 on August 28th. Based on market institution calculations and following the "ten working days" pricing principle, the average price of reference crude oil varieties stood at $88.87 per barrel as of the seventh working day on August 25th. This represents a 7.54% increase compared to the previous price adjustment cycle.

When converted to retail fuel prices, it is projected that gasoline and diesel retail prices will rise by approximately 0.4 yuan per liter. For a typical private car with a 50-liter fuel tank, this translates to an additional cost of around 20 yuan to fill the tank completely.

However, it is important to note that there are still several statistical days remaining in the current pricing period, which leaves room for potential fluctuations. The final adjustment will be subject to the official announcement from the National Development and Reform Commission.

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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