The moving average of the basket of crude oil prices, to which China's product oil prices are pegged, declined 5.38 percent as of December 8 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 |
December 4 |
December 7 |
December 8 |
|
Change rate |
-2.9 percent |
-4.29 percent |
-5.38 percent |
December 9 is the sixth 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.
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