Today, the National Development and Reform Commission issued a notice to reduce the price of gasoline and diesel by 170 yuan and 400 yuan per ton respectively. It is estimated that the retail price of No. 90 gasoline and No. 0 diesel (national average) will be reduced by 0.13 yuan and 0.34 yuan per liter respectively. The price adjustment execution time is 24 o'clock on December 12th.
The price adjustment of refined oil products is based on the current formation mechanism of refined oil prices, taking into account the changes in the average price of crude oil in the international market in the first 10 working days before December 12 and the increase in domestic refined oil consumption tax. Since the end of November, due to factors such as the agreement of the Organization of Petroleum Exporting Countries (OPEC) on the reduction of production, oil prices in the international market have fallen sharply, and the average price of the first 10 working days on December 12 has continued to fall. According to the current formation mechanism of refined oil prices, the price of gasoline and diesel can be reduced by 670 yuan and 640 yuan per ton respectively. According to the "Notice on Further Improving the Consumption Tax on Refined Oils" issued by the Ministry of Finance and the State Administration of Taxation on December 12, the unit tax on gasoline and diesel consumption tax will increase by 0.28 yuan and 0.16 yuan per liter respectively from 0:00 on December 13. The price of gasoline and diesel per ton is reduced by 500 yuan and 240 yuan respectively. The two factors are offset, and the domestic gasoline and diesel prices are reduced by 170 yuan and 400 yuan per ton respectively.
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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