China’s 22-day moving average for the three benchmark crude grades that the government monitors to set fuel prices fell 6.3 percent as of May 4 from the last adjustment on March 19, according to Bloomberg calculations.
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 ================================================================ May 4 119.39 116.77 123.27 119.81 -6.3% March 19 123.84 121.28 138.45 127.86 ================================================================
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