Attention: a major decline in oil prices has occurred! The year 2026 is moving quickly, and we are now in the middle of June. Many individuals are closely following developments related to oil prices.
Since the start of 2026, geopolitical events have driven a series of significant shifts in oil prices. The obstruction of shipping routes in the Strait of Hormuz, influenced by the geopolitical situation, became increasingly prominent, leading to a broad-based increase in prices for both U.S. crude and London Brent crude.
Given the overall performance of international crude oil prices, the rising trend has undeniably increased fuel costs for consumers. Recently, however, as the international geopolitical landscape has begun to ease, expectations for a resolution to the Strait of Hormuz shipping disruptions have grown. Consequently, prices for both U.S. crude and London Brent crude have seen a comprehensive retreat.
On June 13, a report highlighted that international oil prices were in a state of widespread decline. According to that information, U.S. crude oil prices had fallen to $84.88 per barrel, a drop of 3.23%. Brent crude prices had declined to $87.33 per barrel, representing a decrease of 3.37%.
As the navigation issues in the Strait of Hormuz move toward resolution, the drop in oil prices is set to determine the outcome of the new round of refined oil product price adjustments scheduled for June 18, which is expected to conclude with a reduction.
Based on current projections using the international crude oil reference change rate, the expected price decrease could reach 270 yuan per ton. This translates to a potential reduction of over 0.23 yuan per liter for both 92 and 95 octane gasoline.
The emergence of this significant drop in oil prices will lead to a comprehensive improvement in consumer fuel costs. Barring any unforeseen circumstances, following two consecutive reductions this month, the cumulative decline could exceed 700 yuan per ton.
With a few days remaining until the June 18 refined oil price adjustment, there is anticipation that the international oil price decline will further widen in the coming days, leading to a more substantial improvement in fuel costs.
In recent years, the application and popularization of new energy technologies have steadily increased the penetration rate of new energy vehicles. According to industry data, China's new energy vehicle penetration rate may exceed 60% this year. The rising adoption of new energy vehicles is expected to exert long-term downward pressure on demand for traditional fuel-based transportation.
Therefore, provided the international geopolitical situation continues to evolve favorably, oil prices in the second half of the year could enter a phase of sustained decline.
Here is a detailed look at the latest quoted prices for 92 and 95 octane gasoline and #0 diesel at service stations across various regions in the country.
Note: The oil price data mentioned above is sourced from publicly available financial information platforms. This article is intended for informational and discussion purposes only based on publicly available data and does not constitute any investment or trading advice. Oil prices are subject to significant market fluctuations; please refer to the real-time prices at local service stations for accurate information. We wish everyone pleasant refueling and safe travels.
For extensive information and precise analysis, please refer to relevant financial applications.
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