On July 21, the National Development and Reform Commission issued a notice to reduce the price of gasoline and diesel by 245 yuan and 235 yuan per ton respectively. It is estimated that the retail price of No. 90 gasoline and No. 0 diesel (the national average) will be reduced by 0.18 yuan per liter. 0.20 yuan, the price adjustment execution time is 24 o'clock on July 21.
The price adjustment of refined oil products is based on the current formation mechanism of refined oil prices. It is calculated based on the changes in the average price of crude oil in the international market in the first 10 working days before July 21, and is added to the unadjusted amount of the price adjustment period. Since the beginning of July, due to factors such as geopolitical mitigation, oil prices in the international market have fluctuated downwards, and the average price of the first 10 working days has fallen significantly.
The notice requires that PetroChina, Sinopec and CNOOC should organize the production and distribution of refined oil products to ensure a stable supply of the market and strictly implement the national price policy. The competent pricing departments at all levels should increase market supervision and inspection, strictly investigate and punish non-implementation of national price policies, and maintain normal market order.
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