A new adjustment to domestic refined oil product prices is scheduled to take effect this Friday, July 3rd, at 24:00, marking the 13th pricing window of the year.
With only three statistical workdays remaining in the current pricing cycle, which is already 70% complete, a significant price reduction appears all but certain.
Throughout this cycle, the projected decline has consistently widened for six consecutive days, deepening from an initial drop of over 0.40 yuan per liter to the current forecast of a reduction exceeding 0.65 yuan.
This trend strongly indicates that Friday evening will bring the first instance of three consecutive weekly price cuts this year, which would also be the fourth overall reduction in 2024.
Data from the seventh workday of the cycle projects a decrease of 820 yuan per tonne for gasoline and 790 yuan per tonne for diesel.
Translated to retail prices, this equates to an estimated drop of 0.66 yuan per liter for 92-octane gasoline, 0.70 yuan per liter for 95-octane gasoline, and 0.68 yuan per liter for 0-diesel.
Current market prices stand at approximately 7.92 yuan per liter for 92-octane, 8.46 yuan per liter for 95-octane, and 7.58 yuan per liter for 0-diesel.
The two price adjustments in June resulted in consecutive decreases, cumulatively lowering gasoline and diesel prices by 1040 yuan and 1000 yuan per tonne, respectively.
This translated to a cumulative retail price reduction of 0.84 to 0.89 yuan per liter, which pushed the price of 92-octane gasoline back below the 8-yuan mark into the 7-yuan range.
Following the implementation of this week's expected cut, the national average price for 95-octane gasoline is also poised to fall below 8 yuan per liter, re-entering the 7-yuan era.
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