China's next refined fuel pricing window opens July 3 at 24:00; the 13th pricing
cycle is about 70% complete with three statutory working days remaining.
Assessed retail price declines have widened for six consecutive days, increasing
from an initial ~0.40 yuan/liter cut to more than 0.65 yuan/liter. Downward
momentum looks difficult to reverse; Friday night's adjustment is likely to
produce a third consecutive price cut this year — the first three-in-a-row drop
of the year and the fourth cut overall — potentially pushing retail gasoline
back into the 7 yuan/liter band.
