(Photo : Chinaes Oil Demand)

China's domestic market predicted that its oil price may be reduced at a minor scale to around 100 yuan a ton. Notably, Chinese oil price has decreased for the third time after the operation of new price fixation regulation of refined oil products. 

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This new price fixation regulation of refined oil products started from March 27th, 2013, the price modulation cycle has been shortened from 22 workdays to 10 workdays. On June 22, last oil pricing date, China's domestic oil price increased to a small extent with petrol and diesel changed into 100 yuan a ton and 95 yuan a ton respectively. According to the principle of regulating oil price in every 10 workdays, today, July 5, is another pricing date. 

NDRC (National Development and Reform Commission) will announce the final accurate oil price this afternoon at around 17:00. It is known that the modulation sum every time will be no more than 50 yuan, if there were no change, MDRC will announce relevant information at around 15:00.