Refined Oil Retail Ceiling Price Change Forecast
According to SCI’s prediction, China’s National Development and Reform Commission will decrease the retail ceiling prices of gasoline and diesel by RMB 1,015/mt and RMB 975/mt respectively, and accordingly, the prices of 92Ron gasoline and 0# diesel will drop by RMB 0.8/L and RMB 0.83/L respectively. That will be the largest drop of refined oil retail ceiling prices since the adjustment of refined oil pricing mechanism in 2013.
Moreover, according to SCI’s statistics, during the next cycle from March 18 to 31, the average price of international crude oil is likely to stay below $40/bbl, which is the price floor. Therefore, SCI reckons that the National Development and Reform Commission will not change the retail ceiling prices of gasoline and diesel on March 31.
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