The moving average of the basket of crude oil prices, to which China's product oil prices are pegged, grew 8.01 percent as of April 22 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 |
April 20 |
April 21 |
April 22 |
|
Change rate |
7.53 percent |
7.82 percent |
8.01 percent |
April 23 is the ninth 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.
China is expected to raise national benchmark product oil prices by over 300 yuan per tonne starting from Saturday.
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