Due to escalating tensions in the Middle East, international crude oil prices experienced a significant surge on the 27th. At the market close, the price of light sweet crude oil for May delivery on the New York Mercantile Exchange rose by $5.16, settling at $99.64 per barrel, marking an increase of 5.46%. Concurrently, the price of Brent crude for May delivery on the London exchange increased by $4.56, closing at $112.57 per barrel, a gain of 4.22%.

The window for adjusting domestic fuel prices in China is set for April 7th at 24:00, which is 10 days away. The latest forecasts indicate an expanding expectation for a reduction in domestic fuel prices, with a projected decrease currently at 0.1 yuan per liter, suggesting a potential price cut. However, it is important to note that there are still six statistical days remaining in the current pricing cycle, leaving the final direction of oil prices uncertain. Although a decrease of 0.1 yuan per liter is currently anticipated, volatility in international oil markets poses a risk. If international prices continue to climb in the coming days, the domestic adjustment could reverse, potentially leading to a minor price increase in April. The next scheduled adjustment for domestic fuel prices is April 7th at 24:00.