Bloomberg News

China’s 22-Day Moving Average for the Cost of Crude Falls 3.7%

April 24, 2012

China’s 22-day moving average for the three benchmark crude grades that the government monitors to set fuel prices fell 3.7 percent as of yesterday from the last fuel-price adjustment on March 19.

Under a mechanism introduced by the government in 2008, gasoline and diesel tariffs may be adjusted when the 22-day moving average of Brent, Dubai and Cinta changes more than 4 percent from the last official price revision. While the government hasn’t provided the weighting for the grades, Bloomberg’s calculations assume all three are equally weighted.

Prices in the following table are in U.S. dollars a barrel and are according to data compiled by Bloomberg.

================================================================
Date      Brent      Dubai     Cinta     Average     Change
================================================================
April 24  121.69     118.85    128.85     123.13      -3.7%
March 19  123.84     121.28    138.45     127.86
================================================================

To contact Bloomberg News staff for this story: Jing Yang in Shanghai at jyang251@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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