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Moving average of reference crude oil prices up 3.47 pct by Sept.15

BEIJING
2015-09-16 10:02

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The moving average of the basket of crude oil prices, to which China's product oil prices are pegged, gained 3.47 percent as of Sept. 15 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

September 11

September 14

September 15

Change rate

4.6 percent

3.93 percent

3.47 percent

September 16 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.

The government is expected to raise benchmark product oil prices by around 90 yuan per tonne effective from Thursday.

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