Refined oil: Retail price cap will be slightly increased at 24:00 today
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Golden Ten Data Futures, May 21 — Driven by recurring geopolitical events, the average price of crude oil increased week-on-week this cycle, causing the domestic crude oil reference change rate to switch from negative to positive. At 24:00 today (May 21), the retail price cap for refined oil products will be raised. The retail price cap for gasoline and diesel will be increased by 75 yuan/ton and 70 yuan/ton, respectively, which translates to an increase of 0.06 yuan per liter for 92# gasoline, 95# gasoline, and 0# diesel. Looking ahead, international oil prices are expected to fluctuate as the US-Iran negotiations continue; the next cycle is likely to be characterized by a weaker trend and high volatility. The new crude oil change rate will start with a negative value, corresponding to a first-day downward adjustment of 60 yuan/ton. The adjustment window is set for 24:00 on June 4.
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