China's domestic retail fuel-price window opens at 2400 on June 4; the market is
pricing a likely second pump-price cut this year. Data provider Zhuochuang
estimated the ninth working-day reference crude change rate at -12.08% as of
June 2 close, implying a 535 yuan/ton reduction for both gasoline and diesel.
That would lower 92 RON gasoline by about 0.42 yuan/liter and 0# diesel by about
0.45 yuan/liter, saving roughly 21 yuan on a 50L 92 RON fill. Analyst Cao
Yingying called a retail-price cut highly probable; Longzhong analyst Liu Ting
said the probability of an increase in the next adjustment is elevated.
