Oil Price Update: Latest Adjustment Forecast

Deep News08-11 22:10

As of August 11, only three days remain before the August 14 price adjustment window at midnight. The current fuel pricing cycle, which began on August 3, spans 10 working days, with seven completed and three left to go.

At the start of this cycle, expectations for a price cut were growing, with the reduction scale steadily increasing. However, a recent sharp rebound in international oil prices has caused the projected drop to narrow. Current estimates suggest a reduction of 345 yuan per tonne for gasoline and 335 yuan per tonne for diesel. This translates to a decrease of 0.28 yuan per litre for 92-octane petrol, and 0.29 yuan per litre for both 95-octane petrol and diesel.

If international crude oil prices remain high, the predicted reduction could shrink further. However, several calculation days remain in this pricing cycle, and variables could still alter the outcome. All official announcements will be made by the National Development and Reform Commission.

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