A reduction in domestic fuel prices is anticipated before the May Day holiday, potentially lowering the cost of self-drive travel. On the 17th, the State Council Information Office held a thematic press conference as part of the "Getting Started with the 15th Five-Year Plan" series. Wang Changlin, Vice Chairman of the National Development and Reform Commission, stated that since the beginning of this year, China has implemented multiple measures to ensure stable and orderly oil and gas supply.
The current price adjustment window is set for 24:00 on April 21. Based on current expectations, the price of gasoline and diesel is projected to decrease by approximately 0.42 yuan per liter. According to reports, international oil prices fell sharply on the 17th. At the close of trading, the price of light crude oil for May delivery on the New York Mercantile Exchange dropped by $10.84 to settle at $83.85 per barrel, a decrease of 11.45%. The price of Brent crude for June delivery on the London exchange declined by $9.01 to settle at $90.38 per barrel, a drop of 9.07%.
Since the beginning of the year, domestic gasoline and diesel prices have already undergone a series of six consecutive increases. Calculations by JLC indicate that as of April 15, the sixth working day of the current price adjustment cycle, the average reference price for crude oil varieties was $98.45 per barrel, with a change rate of -5.50%. This corresponds to an expected reduction of 510 yuan per ton in domestic retail prices for gasoline and diesel. Converted to a per-liter basis, the decrease amounts to approximately 0.42 yuan.
The final extent of the reduction will depend on the performance of international oil prices over the next few working days. Of course, minor adjustments may still be made during the pricing mechanism's operation based on circumstances. The adjustment is scheduled for 24:00 on April 21, and the final prices will be announced by the National Development and Reform Commission on that day.
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