China's domestic retail refined fuel price ceiling is likely to be reduced at
24:00 on Nov. 12, the first cut since late August, after international crude
fell sharply during the current pricing cycle amid the US midterm outcome,
easing Middle East tensions and reports of US‑Iran talks. As of the ninth
working day through Nov. 10 the reference crude oil change rate stood at -9.28%,
implying an expected reduction of 410 yuan/ton for gasoline and diesel — roughly
0.3 yuan/liter for 92 RON gasoline and 0 diesel. Filling 50 liters of 92 RON
would save about 15 yuan. With one business day remaining before the pricing
window, the cut is a high‑probability event; lower retail fuel costs would
reduce passenger and logistics fuel expenses during the two‑week pricing period
from 24:00 Nov. 12 to 24:00 Nov. 26.
