The moving average of the basket of crude oil prices, to which China's product oil prices are pegged, grew 5.87 percent as of May 1 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 |
April 28 |
April 29 |
May 1 |
|
Change rate |
4.64 percent |
5.02 percent |
5.87 percent |
May 4 is the fifth 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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