Date
23 October 2018

Fuel price changes unlikely this week, Chinanews says

The government is unlikely to follow up its Sept. 30 fuel price cuts with more adjustments to retail prices of gasoline and diesel on Friday, Chinanews.com reported Thursday, citing analysts. Under the new mechanism in which adjustments are based on the 10-day average cost of certain types of crude in the world market, price fluctuations under 50 yuan (US$8.15) per metric ton are set aside and allowed to accumulate until the next round of changes. During the nine working days to October 16, the average price of benchmark crude, including Brent, Brent DTD, Dubai and European Sea Ports Organization crude, was down 0.97 percent at US$107.87, the report said, citing estimates by commodity e-commerce platform Treasure Island. The fuel price will be changed only if the average price falls by more than US$5 on Thursday, an analyst said.

– Contact HKEJ at [email protected]

MY/AC/SK

 

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