IEEJ：December 2016 © IEEJ2016
Oil Market Review in Japan No. 35/2016
December 16, 2016, Friday
Released at 14:00 every Friday
Publisher: Oil Information Center, Institute of Energy Economics, Japan
Inui Bldg. Kachidoki, 11th Floor, 13-1, Kachidoki 1-chome, Chuo-ku, Tokyo, 104-8581 Japan
https://eneken.ieej.or.jp/en/weekly_oil/index.php
■ Overview
On the NYMEX (New York Mercantile Exchange) in the November 24-30 week, the key WTI (West Texas Intermediate) crude oil
futures contract ranged between $45.23 per barrel and $49.44/bbl, rising substantially on the first decision to cut crude oil production by OPEC
(Organization of the Petroleum Exporting Countries) at its ministerial conference in eight years after moving nervously toward the OPEC
conference.
On December 1, the January contract rose further with a substantial gain as Russia indicated a policy of reducing crude oil
production after the OPEC production cut decision on the previous day. Also supporting buying was the dollar’s depreciation against the euro
that made crude oil prices relatively lower. The contract closed at $51.06/bbl, up $1.62/bbl from the previous day, topping the psychological
barrier of $50/bbl. On December 2, the key contract rose for the third straight day on the dollar’s further depreciation against the euro to make
crude oil prices relatively lower, as well as on a reported U.S. Congress plan to extend the Iran Sanctions Act for 10 years, although buying
welcoming the OPEC production cut decision came to a pause, with profit-taking selling emerging. The January contract closed at $51.68/bbl,
up $0.62/bbl.
On December 5 after bullish market sentiment in the previous week, the key contract rose for the fourth straight market day and
reached a temporary high of $52.42/bbl, the highest in 17 months since mid-July 2015, as OPEC Secretary General Mohammad Sanusi
Barkindo announced that major oil producing countries including Russia would meet at OPEC Headquarters in Vienna on December 10. The
January contract finished at $51.79/bbl, up $0.11/bbl. On December 6, the key oil futures contract turned down for the first time in five market
days as skepticism about the OPEC production cut agreement grew on a Reuters report that OPEC production in November hit an all-time high
of 3,419 bpd (barrels per day), with Russia boosting its production to a 30-year high. The January contract lost $0.86/bbl to $50.93/bbl. On
December 7, the key contract fell further as pessimism about the OPEC production cut conditioned on non-OPEC oil producing countries’
coordinated cut grew before the December 10 meeting of major oil producing countries. Another factor behind the fall was a weekly EIA
(Energy Information Administration) oil inventory report including increased petroleum product inventories. The January contract posted a
decline of $1.16/bbl to $49.77/bbl.
The Asian benchmark crude oil of Dubai for January delivery on the Tokyo market in the previous week moved within a range
between $44.30/bbl and $45.80/bbl. It ended at $49.70/bbl on December 1, at $50.10/bbl on December 2, at $50.80/bbl on December 5, at
$51.70/bbl on December 6 and at $51.00/bbl on December 7. On the foreign exchange market in the previous week, the dollar appreciated
against the yen further, ranging between 112.24 yen and 113.78 yen. It changed hands at 114.39 yen in late trading on December 1, at 113.71
yen on December 2, at 113.81 yen on December 5, at 113.58 yen on December 6 and at 114.18 yen on December 7.
According to preliminary 10-day trade statistics released by the Ministry of Finance on December 8, the average crude oil import
CIF price in the November 11-20 period stood at 32,868 yen/kl (kiloliter), up 1,807 yen/kl from the previous 10-day period. In dollars, the price
was $50.12/bbl, up $2.73/bbl. The average exchange rate was 104.26 yen to the dollar.
Wholesale prices of gasoline and middle distillates that major Motouri (petroleum products wholesalers) applied to the second week
of December were raised by 2.0-4.0 yen/l (liter). Crude oil procurement cost rose as crude oil prices increased, with the yen depreciating against
the dollar.
Japan’s average retail price on December 5 stood at 126.0 yen/l for gasoline, up 0.4 yen/l from a week earlier, at 105.2 yen/l for
diesel oil, up 0.4 yen/l, and at 68.2 yen/l for kerosene (heating oil), up 1.6 yen/l. The gasoline price rose for the first in four weeks. The diesel
price increased for the first time in three weeks. The kerosene price went up for the eighth straight week. In the first week of December,
Motouri companies lowered wholesale prices of petroleum products by up to 1.0 yen or raised them by up to 2.0 yen/l, as crude oil cost
($/b)
From
increased.
From
Crude oil
This week
a week
earlier
Crude oil runs
Supply/ Topper capacity
Demand utilization rate
Crude oil inventories
Middle Eastern crude
oil (TOCOM)
WTI crude oil
(NYMEX)
Crude oil import CIF
(%)
11/27 ～
12/3
〃
－
89.6
▲
1.2
→
－
12/5
50.79
($/bbl)
12/5
51.79
179
▼
▲
5.61
▲
11.6
▲
4.71
▲
14.1
－
145.29
[NYMEX]WTI crude oil
138.54
[TOCOM]MiddleEastern
crude oil
130.0
120.0
110.0
100.0
90.0
119.37
120.92
113.93
110.33
99.62
89.47
80.0 78.21
86.84
72.68
70.0
50.12
▲
2.73
▲
2.62
60.0
〃
32,868
▲
1,807
▼
-3,345
50.0
(yen/dollar)
〃
104.26
▼
-0.05
▲
16.95
(yen/dollar)
12/5
114.81
▼
-1.57
▲
9.43
rate
TTS exchange rate
②Yen-dollar exchange
▲
($/bbl)
(yen/kl)
CIF price
52
▲
Ｍｉｄ Ｎｏｖ
①Crude oil import
▲
14,990
150.0
140.0
3,778
12/3
(1,000 kl)
($/bbl)
price
Prices
(1,000 kl)
a year earlier
40.0
30.0
20.0
12/5
1/5 1/5 1/5 1/5 1/5 1/5 1/5 1/5 1/5 1/5
1
IEEJ：December 2016 © IEEJ2016
Oil Market Review in Japan No. 35/2016
(Unit: 1,000 kl, yen/l)
From
This week
Gasoline
a week
earlier
11/27 ～
Production
Supply/
Demand
1,062
▼
-35
▲
Shipments
〃
971
▼
-59
▼
－
Exports
〃
107
▲
85
▲
－
1,619
▼
-16
▼
－
average lorry rack price]
(RIM)
(TOCOM/
Futures [front-month
contract/closing price]
Tokyo Bay)
(TOCOM/
Chubu)
Retail prices [weekly
(published
trend]
by ANRE)
n.a.
－
n.a.
Gyoten (spot) [4-district
11/29 ～
12/5
45.0
▲
2.1
▲
0.4
11/29 ～
12/5
45.9
▲
1.7
▲
0.4
12/5
47.0
▲
3.5
▲
2.0
12/5
126.0
▲
0.4
▼
-1.8
This week
a week
earlier
Supply/
11/27 ～
812
▲
7
▼
Shipments
〃
684
▲
60
▼
－
Exports
〃
193
▲
124
▲
－
1,481
▼
-65
▲
－
12/3
(RIM)
(TOCOM/
Futures [front-month
contract/closing price]
Tokyo Bay)
(TOCOM/
Chubu)
Retail prices [weekly
(published
trend]
by ANRE)
n.a.
－
n.a.
average lorry rack price]
120.0
115.0
110.0
105.0
12/5
45.4
▲
1.5
▼
-3.9
11/29 ～
12/5
44.8
▲
1.8
▲
2.0
－
12/5
105.2
－
▲
0.4
11/9
12/5
(￥/Ｌ)
115.0
Diesel oil (retail)
110.0
n.a.
11/29 ～
12/5
10/11
a year earlier
〃
Gyoten (spot) [4-district
Prices
12/3
From
Imports
Inventories
123.0
9/12
From
Demand
126.0
125.0
(Unit: 1,000 kl, yen/l)
Production
130.0
n.a.
*Gyoten and futures prices are before tax
Diesel oil
Gasoline (retail)
a year earlier
〃
12/3
135.0
From
Imports
Inventories
Prices
12/3
(￥/Ｌ)
105.2
105.0
102.5
100.0
95.0
－
▼
-3.8
*Gyoten and futures prices are before tax
90.0
9/12
10/11
11/9
12/5
(￥/Ｌ)
(Unit: 1,000 kl, yen/l)
From
This week
Kerosene
a week
earlier
11/27 ～
Production
Supply/
Demand
433
▲
27
a year earlier
▼
〃
n.a.
Shipments
〃
560
▲
121
▼
－
Exports
〃
0
→
0
→
－
2,232
▼
-127
▼
－
Gyoten (spot) [4-district
12/3
average lorry rack price]
(RIM)
(TOCOM/
Futures [front-month
contract/closing price]
Tokyo Bay)
(TOCOM/
Chubu)
Retail prices [weekly
(published
trend]
by ANRE)
n.a.
Kerosene (retail)
－
Imports
Inventories
Prices
12/3
75.0
From
n.a.
11/29 ～
12/5
50.4
▲
2.0
▲
5.7
11/29 ～
12/5
50.1
▲
2.3
▲
6.0
12/5
51.0
▲
4.5
▲
8.0
12/5
68.2
▲
1.6
▼
-5.7
70.0
68.2
65.0
63.9
60.0
55.0
9/12
10/11
11/9
12/5
2
IEEJ：December 2016 © IEEJ2016
Oil Market Review in Japan No. 35/2016
■ Relevant Information
Overseas crude oil prices
1
On December 7, the most frequently traded WTI futures contract on the NYMEX fell further as pessimism grew about the
December 10 meeting of OPEC and non-OPEC oil producing countries at OPEC Headquarters in Vienna, given that the November 30 OPEC
production cut decision was conditioned on a coordinated production cut by non-OPEC oil producing countries. The weekly EIA oil inventory
report said that although crude oil inventories posted a decline of 2.4 million barrels from a week earlier, faster than a market forecast decrease
of 1 million barrels, gasoline inventories expanded by 3.4 million barrels (against a market forecast increase of 1.8 million barrels) and middle
distillate inventories by 2.5 million barrels (against a market forecast increase of 1.8 million barrels). The report led concern to grow about
oversupply in the United States. The January contract lost $1.16/bbl from the previous day to $49.77/bbl, slipping below $50/bbl for the first
time in five market days. The February contract also fell by $1.03/bbl to $50.94/bbl.
According to the EIA, the average U.S. retail price of gasoline as of December 5 increased by 5.4 cents per gallon from a week
earlier to $2.208/gal (66.9 yen/l). The average diesel oil price went up by 6.0 cents/gal to $2.480/gal (75.1 yen/l). The gasoline price increased
for the first time in four weeks. The diesel price rose for the first time in five weeks.
2
Petroleum products supply and demand in Japan (1) Shipments
According to a weekly report by the PAJ (Petroleum
Association of Japan), inactive topper capacity during the
November 27-December 3 week came to 111,000 bpd, up 41,000
bpd from the previous week (total capacity stood at 3,790,000
bpd).
Crude oil throughput in the week grew by 52,000 kl
(kiloliters) from the previous week to 3,778,000 kl. From a year
earlier, it rose by 75,000 kl. The topper capacity utilization rate
stood at 89.6%, up 1.2 percentage points from a week earlier and
up 4.6 points from a year earlier.
Output decreased from the previous week for gasoline,
Fuel Oil A and Fuel Oil C while increasing for other petroleum
products. Output was down 3.2% for gasoline, up 4.8% for jet
fuel, up 6.8% for kerosene, up 0.9% for diesel oil, down 2.7% for
Fuel Oil A and down 11.4% for Fuel Oil C. Fuel Oil C imports in
the week totaled 45,000 kl, up 43,000 kl from the previous week.
Diesel oil exports aggregated 193,000 kl, up 124,000 kl.
Shipments (sales volume) in the week decreased from
the previous week for gasoline and Fuel Oil C and increased for
other petroleum products. From a year earlier, shipments increased
only for jet fuel and decreased for others. While crude oil prices
continued to rise with retail gasoline prices increasing for the first
time in four months, gasoline shipments decreased by 5.7% from
the previous week to 971,000 kl. They decreased week on week
for the first time in three weeks and year on year for the first time
in 10 weeks, slipping below 1 million kl for the first time in two
weeks.
Shipments totaled 78,000 kl for jet fuel (up 75.3% from
the previous week), 560,000 kl for kerosene (up 27.4%), 684,000 kl
for diesel oil (up 9.6%), 265,000 kl for Fuel Oil A (up 1.7%) and
285,000 kl for Fuel Oil C (down 12.2%).
(Unit: 1,000 kl)
This week
(11/27
～
12/3)
From
Previous week
(11/20
～
a week earlier
11/26)
971
1,030
▼
-59
（-6%）
78
44
▲
34
（ 77%）
560
439
▲
121
（ 28%）
Diesel oil
684
624
▲
60
（ 10%）
Fuel oil A
265
261
▲
4
（2%）
Fuel Oil C
285
325
▼
-40
（-12%）
2,843
2,723
▲
120 （4%）
Gasoline
Jet fuel
Kerosene (heating
Oil)
Total
This week’s shipments = (Previous weekend inventories + This week’s production
+ This week’s imports) - (This week’s exports + This weekend inventories)
2
Petroleum products supply and demand in Japan (2) Inventories
Inventories as of December 3 increased from a week
earlier only for Fuel Oil C and decreased for other petroleum
products. From a year earlier, inventories increased only for diesel
oil and decreased for others.
Gasoline inventories totaled 1,619,000 kl, down 16,000
kl from a week earlier and down 58,000 kl from a year earlier.
Kerosene inventories totaled 2,232,000 kl, down
127,000 kl from a week earlier and down 614,000 kl from a year
earlier.
Diesel oil inventories totaled 1,481,000 kl, down
65,000 kl from a week earlier and up 106,000 kl from a year
earlier
Fuel Oil A inventories totaled 710,000 kl, down 7,000
kl from a week earlier and down 52,000 kl from a year earlier.
Fuel Oil C inventories totaled 1,877,000 kl, up 15,000
kl from a week earlier and down 281,000 kl from a year earlier.
(Unit: 1,000 kl)
From
This week
Previous week
(12/3)
(11/26)
Gasoline
1,619
1,635
▼
-16 （-1%）
Jet fuel
949
962
▼
-13 （-1%）
2,232
2,359
▼
-127 （-5%）
Diesel oil
1,481
1,546
▼
-65 （-4%）
Fuel oil A
710
717
▼
-7
（-1%）
Fuel Oil C
1,877
1,862
▲
15
（1%）
8,868
9,081
▼
-213
（-2.3%）
Kerosene (heating
Oil)
Total
a week earlier
3
IEEJ：December 2016 © IEEJ2016
Oil Market Review in Japan No. 35/2016
Petroleum products wholesale prices in Japan (1) Wholesale price revision trend
3
Between November 29 and December 5, crude oil cost apparently rose as crude oil prices went up, with the yen depreciating against
the dollar.
Onshore cargo spot prices in the week moved between 97 and 101 yen/l for gasoline, between 44 and 47 yen/l for diesel oil and
between 48 and 53 yen/l for kerosene, firming generally in response to crude oil price hikes. Offshore barge spot prices moved between 96 and
101 yen/l for gasoline, between 46 and 48 yen/l for diesel oil and between 49 and 53 yen/l for kerosene. The key futures price ranged between
97 and 102 yen/l for gasoline, between 43 and 47 yen/l for diesel oil and between 47 and 52 yen/l for kerosene, rising from the previous week.
Motouri raised wholesale prices of petroleum products by 2.0-4.0 yen/l.
On December 8, EMG Marketing notified that it would raise its onshore spot direct sales prices by 2.0 yen/l for gasoline and by 3.0
yen/l for other petroleum products for shipments from December 10.
3
Petroleum products wholesale prices in Japan (2) Spot (Gyoten) and futures price trend
(RIM)
As wholesale prices of petroleum products were raised,
with crude oil cost rising, spot petroleum products prices firmed.
Weekly gasoline sales volume fell back below 1 million kl after
topping the level in the previous week for the first time in 12 weeks.
The latest onshore cargo spot price (the average onshore
rack price for four districts -- Chiba, Kawasaki, Chukyo and Hanshin - for November 29 through December 5) that influences Motouri’s
wholesale prices applied to the second week of December (December
8-14) rose by 2.1 yen/l for gasoline, by 2.0 yen/l for kerosene and by
1.5 yen/l for diesel oil. The average offshore barge spot price in
Tokyo Bay went up by 1.5 yen/l for gasoline, by 2.8 yen/l for
kerosene and by 0.7 yen/l for diesel oil. The key futures price rose by
1.7 yen/l for gasoline, by 2.3 yen/l for kerosene and by 1.8 yen/l for
diesel oil. As crude oil cost rose on crude oil price hikes and the yen’s
depreciation, spot petroleum products prices generally firmed.
Wholesale prices of petroleum products for the second
week of December rose by 2.0-4.0 yen/l. Motouri companies based
wholesale price revisions on crude oil and petroleum products market
prices and each other’s prices from 2010 and have adopted an
approach giving greater priority to crude oil acquisition cost since
June 2014.
(Unit: yen/l)
[4-district
This week
average lorry
rack price]
Spot
Prices
(11/29
～
12/5)
Previous week
(11/22
～
From a week
11/28)
earlier
Regular
45.0
42.9
▲
2.1
Kerosene
50.4
48.4
▲
2.0
Diesel oil
45.4
43.9
▲
1.5
This week
Previous week
(TOCOM)
(Unit: yen/l)
[Front-month
contract/closing
price]
[Average]
Futures
Price
(11/29
～
12/5)
(11/22
～
From a week
11/28)
earlier
Regular
45.9
44.2
▲
1.7
Kerosene
50.1
47.8
▲
2.3
Diesel oil
44.8
43.0
▲
1.8
Above prices are before tax.
Reference (November 29 - December 5 actual data)
(Unit: yen/l)
Products
Spot
Futures
Average
Gasoline
2.1
1.7
1.9
Kerosene
2.0
2.3
2.2
Diesel oil
1.5
1.8
1.6
Fuel Oil A
1.5
(Source) Spot: RIM 4-district average lorry rack price
(Chiba, Kawasaki, Chukyo, Hanshin)
Futures: TOCOM average offshore barge spot price for Keihin District
4
Retail prices of petroleum products in Japan
The average retail service station price as of December 5 rose by 0.4 yen/l from a week earlier to 126.0 yen/l for gasoline, by 0.4
yen/l to 105.2 yen/l for diesel oil and by 1.6 yen/l to 68.2 yen/l for kerosene. The gasoline price fell for the first time in four weeks. The diesel
oil price fell for the first time in three weeks. The kerosene price increased for the eighth consecutive week.
Gasoline prices increased in 31 prefectures, remained unchanged in nine and decreased in seven. The lowest gasoline price among
the prefectures was 120.5 yen/l in Saitama Prefecture (down 0.3 yen/l from a week earlier). The second lowest was 122.1 yen/l in Chiba (up 0.3
yen/l). The highest price was 134.3 yen/l in Nagasaki (unchanged). Posting the largest price hike of 1.9 yen/l was Fukui (127.6 yen/l).
Recording the fastest drop of 0.3 yen was Saitama (120.5 yen/l).
While crude oil cost rose, the average retail gasoline price increased for the first time in four weeks. Motouri companies this week
raised wholesale petroleum product prices by 2.0-4.0 yen/l. As crude oil cost rose on crude oil price hikes and the yen’s depreciation, Motouri
companies raised wholesale gasoline prices. Given the Motouri wholesale price trend, retail gasoline and kerosene prices are likely to increase
next week.
(Unit: yen/l)
(Published by
ANRE)[Weekly
This week
Previous week
(12/5)
(11/28)
126.0
125.6
▲
0.4
Kerosene
68.2
66.6
▲
1.6 08/8/11 132.1
Diesel oil
105.2
104.8
▲
0.4
trend]
Regular
From a week
earlier
Latest high
08/8/4
185.1
Nationwide average cash retail price
(including consumption tax)
Retail
Price
Since April 2007, 2,000 service stations
have been covered.
Latest highs are highest levels since
08/8/4
167.4
October 2003.
4
IEEJ：December 2016 © IEEJ2016
Oil Market Review in Japan No. 35/2016
Gasoline price trend
(2016/9/26 ～
130.0
2016/12/5)
（￥/Ｌ ）
（￥/Ｌ)
Left scale: retail prices
60.0
Retail price
120.0
55.0
110.0
50.0
RIM (offshore barge)
RIM (onshore)
100.0
45.0
TOCOM/ futures, Chubu
90.0
40.0
TOCOM/ futures, Tokyo Bay
80.0
35.0
Right scale: RIM and futures prices
70.0
9/26
30.0
10/3 10/11 10/17 10/24 10/31 11/7 11/14 11/21 11/28 12/5
Retail price
RIM (offshore barge)
TOCOM ( futures, Tokyo Bay)
TOCOM ( futures price, Chubu)
RIM (onshore)
(Note) ① Retail price includes consumption Tax, RIM, TOCOM prices are before tax.
② RIM (onshore) is the aberage of four district .
5
IEEJ：December 2016 © IEEJ2016
Oil Market Review in Japan No. 35/2016
■ Announcement
This report is available at the center’s website (http://eneken.ieej.or.jp/en/).
The next issue (No. 36or 2016) will be announced at 14:00 on December 22 .
On use of this report
The copyrights to texts, graphics and other information
(hereinafter combined into “documents”) in this report belong
to the Oil Information Center of the Institute of Energy
Economics, Japan (hereinafter referred to as this Center), or
to third parties contributing the documents to this Center.
This Center forbids the documents from being repurposed,
duplicated or altered without approval by this Center.
This Center has made the documents comprehensive but no
guarantee is made as to accuracy or safety.
Weekly Oil Market Review
In an interim report compiled in May 2004 by a petroleum
products market trend study panel sponsored by the
Petroleum Distribution and Retail Division of the Natural
Resources and Fuel Department at the Agency for Natural
Resources and Energy, the panel stated, “We hope that the
Japanese oil industry will solidify its market and price-finding
functions and that the oil industry as a mainstay industry in
Japan will further enhance its rationality and vitality over a
medium term as industry people deepen their understanding
of the need for rational price recognition based on market
and price-finding functions to be established in the oil
industry and for business decisions based on recognition
under the principle of self-responsibility.”
In response to the report, this Center has published the
Weekly Oil Market Review as a tool for oil-related people,
business administrators (particularly service station
managers) and ordinary consumers to accurately understand
crude oil and petroleum products supply and demand and
price trends, in cooperation with relevant organizations such
as the Petroleum Association of Japan and the Zensekiren
(Japan’s Dealers Association) since May 2005.
Sources of data provided in this report
① [Crude oil and petroleum products supply and demand]
(weekly PAJ report)
Data in weekly statistics on crude oil and petroleum product
supply by the Petroleum Association of Japan are calculated
in terms of 1,000 kiloliters. Shipments are estimated by this
Center.
② [Crude oil and futures prices] (WTI crude and Middle
Eastern crude)
For the WTI crude, the front-month WTI crude futures
contract’s daily closing price on the New York Mercantile
Exchange (NYMEX) is adopted.
For the Middle Eastern crude, the front-month Middle
Eastern crude futures contract’s closing price on the Tokyo
Commodity Exchange (TOCOM) is adopted. ＊”Secondmonth (next-month) contract”
Underlying the Middle Eastern crude price is the average
price for the Dubai and Oman crude oil. The telegraphic
transfer middle rate (TTM) released by the Bank of TokyoMitsubishi UFJ is adopted as the foreign exchange rate.
The crude oil import CIF price is a dollar-denominated
reference price estimated by the PAJ based on the average
crude oil price (on a 10-day basis) in the Ministry of Finance
trade statistics.
③[Motouri wholesale prices of petroleum products in Japan]
Motouri wholesale prices are prices for transactions between
Motouri petroleum products wholesalers (primary wholesalers)
and their affiliates (secondary wholesalers).
Motouri companies modified their new pricing system in
April 2010 to decide specific policies in comprehensive
consideration of crude oil and petroleum products market
prices, each other’s prices and other data. In June 2014,
they modified the system further to give greater priority to
crude oil cost.
④ [Gyoten spot prices of petroleum products in Japan]
(RIM gyoten)
Onshore cargo spot prices are the average onshore lorry
rack prices for the four districts of Tokyo, Kawasaki,
Chukyo and Hanshin in the Lorry Rack Report of RIM
Intelligence Co.
⑤ [Futures prices of petroleum products in Japan]
(TOCOM)
Front-month petroleum products futures contracts’ daily
closing prices for TOCOM Tokyo Bay and Chubu are
adopted.
TOCOM Tokyo Bay prices are the average offshore barge
prices for the Keihin district. TOCOM Chubu prices are the
average lorry rack prices in the Chubu district.
⑥ [Retail prices of petroleum products in Japan] (Weekly
trend survey)
Average cash retail prices at some 2,000 service stations
subject to a weekly nationwide survey are adopted (as
released by the Agency for Natural Resources and Energy).
The survey covers prices on Monday and is released at
14:00 on Wednesday (available on the website of the
Agency for Natural Resources and Energy).
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