Fuel Prices Set for Another Increase

Deep News06:50

After a surge of more than 0.20 yuan per liter last week, fuel prices are set for another adjustment at the end of this month. Due to the continuous sharp rise in international oil prices, the cost of oil has already climbed to 640 yuan per ton as of yesterday.

With international oil prices spiking again at the close of trading this morning, West Texas Intermediate crude in the US is trading at $92.19 per barrel (+6.17%), while Brent crude is at $100.69 per barrel (+7.04%). The increase in oil prices has accelerated by 140 yuan per ton today, pointing to a significant rise of 780 yuan per ton for next week's fuel prices.

The third adjustment for July will occur at 24:00 on July 31. Currently, five working days of the ten-day statistical cycle have been completed. Influenced by today's continued surge in international oil prices, the international crude oil change rate has now reached 14.64%. Based on the current rate of increase, the price of gasoline and diesel is expected to rise by 0.59 yuan to 0.70 yuan per liter next week.

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