Markets > Commodities

Moving average of reference crude oil prices down 6.11 pct by Aug. 3

BEIJING
2015-08-04 12:55

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The moving average of the basket of crude oil prices, to which China's product oil prices are pegged, dropped 6.11 percent as of Aug. 3 from the latest cycle of fuel prices adjustment, according to Xinhua's calculations.

Table 1: Change of moving average of crude oil price basket

Date

July 30

July 31

August 3

Change rate

-4.98 percent

-5.58 percent

-6.11 percent

August 4 is the tenth working day in current 10-working day cycle.

Under current mechanism, benchmark prices of gasoline and diesel will be adjusted every 10 working days except when the adjustment is less than 50 yuan/tonne. The unrealized change would be counted into the following cycle of price adjustment.

It's estimated that national benchmark product oil prices would come down by around 210 yuan/tonne effective Wednesday.

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