The moving average of the basket of crude oil prices, to which China's product oil prices are pegged, dropped 5.28 percent as of November 30 from the latest cycle of fuel prices adjustment, according to Xinhua's calculations.
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Table 1: Change of moving average of crude oil price basket |
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Date |
November 26 |
November 27 |
November 30 |
|
Change rate |
-5.15 percent |
-5.17 percent |
-5.28 percent |
December 1 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 be adjusted downward by around 140 yuan per tonne effective Wednesday.
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