• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 2 hours Shale Oil will it self destruct?
  • 2 hours Berkeley becomes first U.S. city to ban natural gas in new homes
  • 1 day Excellent Choice: Germany's Von der Leyen Secures Powerful EU Executive Top Job
  • 10 hours Today in Energy
  • 10 hours Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 10 hours Mnuchin Says No Change To U.S. Dollar Policy ‘As of Now’
  • 9 hours Populist, But Good: Elizabeth Warren Takes Aim at Private-Equity Funds
  • 21 hours Washington Post hit piece attacking oil, Christians and Trump
  • 1 day Migration From Eastern Europe Raises German Population To Record High
  • 1 day White House insider who predicted Iran False Flag, David Goldberg found dead in his New York apartment
  • 2 days Germany exits coal: A model for Asia?
  • 4 hours Why Natural Gas is Natural
  • 2 days A Silence is heard
Oil Traders Remain Bearish… For Now

Oil Traders Remain Bearish… For Now

The market seems too well…

Signs Of Slower Permian Oil Growth Continue To Emerge

Signs Of Slower Permian Oil Growth Continue To Emerge

While U.S. shale production is…

China To Boost Fuel Prices On July 10

Gas station

China will raise the retail ceilings of gasoline by CNY150/mt and diesel by CNY140/mt on July 10 (Wednesday), as international crude prices have rebounded in this pricing cycle, according to industry sources.

Accordingly, there will be a boost of CNY0.11/liter ($0.06/US gallon) in the retail price of national standard 89-RON gasoline, CNY0.12/liter in 92-RON gasoline and CNY0.12/liter in zero-pour-point diesel, JLC data shows.

The price hike on Wednesday will be the 13th price adjustment so far this year, also the ninth price rise. After the markup, the retail ceilings of standard 89-RON gasoline will range between CNY8,185/mt and CNY8,625/mt, and those of standard zero-pour-point diesel will rally to CNY7,310-7,650/mt.

As of July 9, the tenth working day in this pricing cycle for China's gasoline and diesel retail ceilings, the crude basket JLC selects to indicate fluctuations in international crude prices has gained 4.21% from the previous pricing cycle to $62.37/bbl, JLC data shows.

Domestic gasoline and diesel prices have recently climbed because of improving market fundamentals. The wholesale prices of 92-RON gasoline settled at CNY5,950-6,150/mt in north, east and south China and Shandong on July 9, up by CNY50-250/mt from June 26, JLC data shows. Meanwhile, the wholesale prices of diesel gained CNY50-200/mt to CNY6,000-6,650/mt. Gasoline prices are still below those of diesel, and the price spread hit CNY500/mt in some regions, which is a stark contrast to relatively high gasoline prices in past years.

The country last adjusted fuel prices on June 26, cutting the retail ceilings of gasoline by CNY120/mt and diesel by CNY115/mt.  

According to China's current gasoline and diesel pricing mechanism, which has been in place since January 2016, the country will adjust fuel prices every 10 working days in line with the fluctuation in international crude prices in the range of $40-130/bbl. It will not adjust fuel prices if crude futures prices are above $130/bbl or below $40/bbl or the resulting price change is less than CNY50/mt, or roughly $1/bbl.

By JLC International

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • G Z on July 10 2019 said:
    So it has nothing to do with maki g adjustments to their strategic devaluation of China's currevcy?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play