This year, the domestic retail price of refined oil ended with no changes. On December 18, the National Development and Reform Commission announced that since the adjustment of domestic refined oil prices on December 4, 2024, international oil prices have fluctuated. According to the current domestic refined oil price mechanism, the average price in the 10 working days before December 18 compared to the average price in the 10 working days before December 4 showed a price adjustment amount of less than 50 yuan per ton. According to Article 7 of the 'Petroleum Price Management Measures', there will be no adjustment to gasoline and diesel prices this time, and the unadjusted amount will be accumulated or offset in the next price adjustment. Before the next round of refined oil price adjustments, fuel costs for residents driving and logistics transportation will remain unchanged.

This year, the domestic retail price of refined oil ended with a freeze. On December 18, the National Development and Reform Commission announced that since the adjustment of domestic refined oil prices on December 4, 2024, international market oil prices have fluctuated. According to the current domestic refined oil price mechanism, the average price in the 10 working days before December 18 compared to the average price in the 10 working days before December 4 showed an adjustment amount of less than 50 yuan per ton. According to Article 7 of the 'Petroleum Price Management Measures', there will be no adjustment to gasoline and diesel prices this time, and the unadjusted amount will be accumulated or offset in the next price adjustment. Before the next round of refined oil price adjustments, fuel costs for residents driving and logistics transportation will remain unchanged.

This is the twenty-fifth price adjustment in 2024 and the third consecutive freeze since November 20. After this round of adjustments, the pattern for refined oil price adjustments in 2024 will show 'nine increases, nine decreases, and seven freezes', with a total annual reduction of 130 yuan/ton for standard gasoline and 125 yuan/ton for diesel. In terms of per liter price, the cumulative reduction for 92-octane gasoline this year is 0.09 yuan, and for diesel, it is 0.11 yuan.

During this pricing cycle, international oil prices showed a trend of fluctuation, with both bearish and bullish factors coexisting. The U.S. Energy Information Administration (EIA) released a short-term energy outlook report on December 10, lowering next year's global oil demand from last month's forecast of 104.4 million barrels per day to 104.3 million barrels per day. On the 11th, OPEC released its monthly oil market report, continuing to lower its expectations for global oil demand in 2024 and 2025. Nevertheless, further sanctions by the EU against Russia and Saudi Arabia's extension of production cuts for three months still provide significant support for oil prices, leading to a strong fluctuation in international oil prices.