Today, the National Development and Reform Commission issued a notice to reduce the price of gasoline and diesel by 105 yuan and 100 yuan per ton respectively. It is estimated that the retail price of No. 90 gasoline and No. 0 diesel (the national average) will be reduced by 0.08 yuan and 0.09 yuan per liter respectively. The price adjustment execution time is 24 o'clock on September 1.
The adjusted price of refined oil products is determined according to the current formation mechanism of refined oil prices, based on the changes in the average price of crude oil in the international market in the first 10 working days before September 1. Since late August, affected by factors such as weak demand for global refined oil products, oil prices in the international market have fluctuated downwards, and the average price of the first 10 working days has declined.
The notice requires that PetroChina, Sinopec and CNOOC should organize the production and distribution of refined oil products to ensure a stable supply of the market and strictly implement the national price policy. The competent pricing departments at all levels should increase market supervision and inspection, strictly investigate and punish non-implementation of national price policies, and maintain normal market order.
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