Car owners will spend 25.5 yuan less to fill a 50-liter tank with No. 92 gasoline. During this round of price adjustment cycle for refined oil products, international oil prices fell from a high level due to factors such as the sharp decline in geographical risk premiums. As of November 11, London Brent and New York WTI oil prices had dropped to around 93 US dollars and 87 US dollars per barrel, respectively. Research by the Price Monitoring Center of the National Development and Reform Commission indicated that there is great uncertainty about the current geopolitical situation. There has been no decrease in the frequency of attacks on ships in the Strait of Hormuz and surrounding waters, and supply-side risks remain; short-term tanker flow recovery will take time. In the future, we need to continue to focus on the impact of developments in the US and Iran on international oil prices.

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