【SCI View】China Gasoline & Diesel Retail Ceiling Price Increased

On September 4, China’s National Development and Reform Commission raised the retail ceiling prices of gasoline and diesel by RMB 115/mt and RMB 105/mt respectively. Accordingly, the prices of 92Ron Gasoline and 0# diesel increased by RMB 0.09/L. In 2019, China’s retail ceiling prices of gasoline and diesel totally experienced 10 increases and 6 decreases. On the whole, the prices of gasoline increased by RMB 240/mt, while the prices of diesel increased by RMB 245/mt.

In the future, the international crude oil prices are likely to underperform. From September, China and the U.S. raised their tariff against each other, and the trading tensions between the two countries intensified. Meanwhile, the U.S. crude oil output kept increasing, making many participants adopt bearish attitudes toward the international crude oil market. If the future international crude oil prices trend down, China’s National Development and Reform Commission is likely to decrease the retail ceiling prices of gasoline and diesel on September 19.





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