·Development and Reform Commission: the state reduces the price of refined oil

Today, the National Development and Reform Commission issued a notice to reduce the price of gasoline and diesel by 95 yuan and 90 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 0.07 yuan and 0.08 yuan per liter respectively. The price adjustment execution time is 24 o'clock on July 7.
The price adjustment of refined oil products is determined according to the current formation mechanism of refined oil prices, based on the changes in the average price of crude oil in the international market in the first 10 working days before July 7. Since late June, affected by factors such as increased global crude oil supply, the oil price in the international market has fluctuated downwards, and the average price of the first 10 working days has declined.
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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