The National Development and Reform Commission recently announced a new adjustment to domestic gasoline prices, marking the fourth time this year that retail oil prices have been revised. A few days ago, the commission issued an official notice detailing the price changes, which quickly led to an increase in refined oil prices across Beijing. Specifically, the price of No. 93 gasoline was raised from 3.02 yuan per liter to 3.20 yuan, reflecting an increase of 0.18 yuan. This latest adjustment has brought fuel prices closer to the levels seen at the beginning of the year.
This move follows a series of price fluctuations throughout 2024. In February, Beijing saw a small rise in oil prices, with an average increase of 0.19 yuan. At that time, No. 93 gasoline went up from 3.12 yuan to 3.29 yuan per liter, an increase of 0.17 yuan. Then, in May and July, there were two rounds of price cuts, bringing some relief to consumers. However, with this recent hike, the cost of fuel is once again approaching the higher levels observed earlier in the year.
Experts suggest that these adjustments are influenced by global oil market trends, as well as domestic supply and demand dynamics. As the country continues to monitor energy costs, further changes could be expected in the coming months. For now, drivers and businesses alike are closely watching how these price shifts will impact their daily operations and expenses.
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