China is about to usher in the 11th round of oil price adjustments, and the prospects for rising oil prices are uncertain

News on May 29, according to the latest news, China is about to usher in the eleventh round of oil price adjustments. The adjustment is expected to officially take effect at 24:00 next Tuesday (May 30). This price adjustment refers to the change rate of international crude oil and the recent rise in international oil prices. Although preliminary forecasts indicate that oil prices may rise, the final results still need to wait for an official announcement from the National Development and Reform Commission due to the uncertainty of international oil prices.

According to the editor’s understanding, as of May 26, international oil prices showed an upward trend. The price of light crude oil futures for July delivery on the New York Mercantile Exchange rose by US$0.84 to close at US$72.67 per barrel, an increase of 1.17%; while the price of Brent crude oil futures in London also rose by US$0.69 to close at US$76.95 per barrel. USD, up 0.90%. These rising data also bring some uncertainty to China's oil price adjustment next Tuesday.

Since the beginning of this year, China’s oil prices have experienced 10 adjustments, showing a pattern of “3 rises, 5 falls, and 2 stranded”. The overall trend may be four rises, five falls and two flats, taking into account the upcoming 11th price adjustment. In the latest tenth round of price adjustments, that is, on May 16, domestic gasoline and diesel prices dropped by 380 yuan and 365 yuan per ton. This year's oil prices have shown a trend of "more falls and less rises", but the increases and decreases are not symmetrical.

It is expected that this oil price adjustment will have a certain impact on car users. According to predictions, the increase in gasoline and diesel prices will result in an additional cost of approximately 3 yuan to fill up a 50-liter car. However, the specific price adjustment plan still needs to be officially announced by the National Development and Reform Commission. By then, consumers will have more accurate data and details for reference to make corresponding economic arrangements.

To sum up, China is about to usher in the eleventh round of oil price adjustments. While initial forecasts suggest oil prices may rise, we still need to wait for an official announcement from the National Development and Reform Commission. As international oil prices rise, oil price adjustments have also brought certain uncertainties. Consumers need to pay close attention to official announcements in order to plan their personal financial expenditures appropriately.

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