China Domestic Refined Oil Retail Prices Set to Fall Again

China's refined oil retail prices are set to decrease as of midnight on August 14. This marks the fifth price reduction of the year, following ten increases and one instance where no adjustment was made. The decline in crude oil prices and a negative change rate during this cycle have put downward pressure on gasoline spot prices.

The weakening crude oil market and lack of support from a negative price change rate have also created bearish conditions for diesel spot prices. This combination has led to downward momentum for diesel prices, with no indication of relief in sight.

SunSirs has been tracking price data for over 200 commodities for nearly 20 years and has confirmed the upcoming retail price reduction.