The moving average of the basket of crude oil prices, to which China's product oil prices are pegged, dropped 7.31 percent as of March 24 from the latest cycle of fuel prices adjustment, according to Xinhua's calculations.
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Change of moving average of crude oil price basket |
|||
|
Date |
March 20 |
March 23 |
March 24 |
|
Change rate |
-7.70 percent |
-7.36 percent |
-7.31 percent |
March 25 is the ninth working day in current 10-working day cycle.
The government is expected to cut national benchmark product oil prices by 250 yuan per tonne since this Friday.
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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