New Fuel Price Adjustment Scheduled for July 3rd

Deep News13:40

According to the established schedule for domestic refined oil product price adjustments, the next pricing window will open at midnight on July 3rd. The current ten-working-day statistical cycle for this price review has now completed four days. Based on projections from specialized institutions, influenced by recent international oil price trends, the current crude oil change rate stands at -12.84%. This indicates a forecasted price reduction of 720 yuan per ton. If this expected decrease holds, the prices of gasoline and diesel are projected to fall significantly by 0.55 to 0.65 yuan per liter. The final adjusted price for this cycle will be officially confirmed by the National Development and Reform Commission.

International Oil Prices Decline to Pre-Conflict Levels

International oil prices have continued their downward trajectory, returning to levels seen before recent geopolitical events. This trend follows the signing of a memorandum of understanding between the United States and Iran and the gradual restoration of navigation through the critical Strait of Hormuz energy passageway. On June 25th, the price of Brent crude oil in London briefly fell below $72.48 per barrel, approaching the level observed the day before military strikes were launched against Iran by the United States and Israel on February 28th. This marks the latest low point for international oil prices since the U.S.-Iran memorandum was signed on June 17th.

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On June 25th, the price of Brent crude oil in London briefly fell below $72.48 per barrel, approaching the level observed the day before military strikes were launched against Iran by the United States and Israel on February 28th. 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