The price of refined oil may drop for the sixth time this year. Filling up a tank will cost about 15 yuan less

China-Singapore Jingwei, November 12th (Wankeyi) A new round of price adjustment window for domestic refined oil products will open at 24:00 on November 12th. From a comprehensive institutional perspective, this round of refined oil prices will usher in the sixth reduction this year.

Wang Luqing, a refined oil analyst at Zhuochuang Information, told Sino-Singapore Jingwei that in this round of pricing cycle, as the U.S. midterm elections took place, geopolitical tensions in the Middle East eased, and good news came out of the U.S.-Iran peace talks, international crude oil prices fell sharply, driving the change rate of domestic crude oil from positive to negative.

Wang Luqing mentioned that this reduction is a high probability event. As of the 9th working day on November 10, with reference to the crude oil change rate of -9.28%, gasoline and diesel are expected to be reduced by 410 yuan/ton, which is equivalent to a reduction of about 0.3 yuan per liter of 92# gasoline and 0# diesel. Filling up with 50 liters of 92# gasoline can save about 15 yuan.

Jinlianchuang refined oil analyst Bi Mingxin also believes that from the current point of view, this round of oil prices may decline. The final price adjustment results and adjustment range will be subject to the official announcement of the National Development and Reform Commission. If this reduction is implemented, the fuel costs for residents’ self-driving travel and logistics transportation will decrease.

Data map photo by China-Singapore Jingwei Wan Keyi

Sino-Singapore Jingwei noted that since the beginning of this year, domestic oil prices have experienced 21 rounds of price adjustments, with the overall pattern being “14 up, five down, and two stranded.” Among them, in order to mitigate the impact of rising international oil prices, the state has taken regulatory measures on refined oil prices five times. If this round of price adjustments is lowered as expected, the price adjustment pattern in 2026 will become “fourteen increases, six decreases, and two stranded.”

According to the “ten working days” principle, the next round of refined oil retail price adjustment window will open at 24:00 on November 26.

Looking at the market outlook, Bi Mingxin analyzed that optimistic expectations for the easing of the situation between the United States and Iran continue to rise. The price of crude oil has dropped significantly recently, and it is expected that the rate of change of a new round of price adjustments may begin with a negative range.