China's oil prices set to rise again

Market insiders are expecting another oil price adjustment on Friday morning. This is because the international price has continued to rise over the last month.

The figure hit between 70 and 80 dollars per barrel during the last three weeks.

Prices for 93 octane and 97 octane remain at their levels of a month ago. But many car owners believe refined oil prices are likely to rise soon.

According to an "oil price management rule," when the average international price rises more than 4 percent for 22 consecutive working days, the domestic refined oil price is allowed to adjust accordingly.

There have been seven price adjustments for domestic refined oil this year. The last came on September 30th, when the retail price was cut to 190 yuan per ton.