Fuel Prices Set for Major Cut Tonight, Potentially the Largest Single Reduction This Year

Deep News13:12

According to reports, a new adjustment window for domestic refined oil product retail price ceilings will open at 24:00 on July 3rd. Multiple industry analysts predict that oil prices are poised for their first "three consecutive declines" of the year, with the potential to set the record for the largest single reduction in 2024.

Data from a monitoring model shows that as of the close of foreign markets on July 1st, the reference change rate for crude oil stood at -19.31% for the ninth domestic working day. It is estimated that at 24:00 on the 3rd, gasoline and diesel prices will be lowered by 855 yuan per ton. This translates to reductions of 0.67 yuan, 0.71 yuan, and 0.73 yuan per liter for 92-octane gasoline, 95-octane gasoline, and 0-diesel, respectively.

If this adjustment magnitude is implemented, filling a 50-liter tank with 92-octane gasoline will cost approximately 33.5 yuan less for a private car owner.

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.

Comments

We need your insight to fill this gap
Leave a comment