China’s 22-Day Moving Average for the Cost of Crude Falls 6.3%

China’s 22-day moving average for the three benchmark crude grades that the government monitors to set fuel prices fell 6.3 percent as of May 4 from the last adjustment on March 19, according to Bloomberg calculations.

Under a mechanism introduced by the government in 2008, gasoline and diesel tariffs may be adjusted when the 22-day moving average of Brent, Dubai and Cinta changes more than 4 percent from the last official price revision. While the government hasn’t provided the weighting for the grades, Bloomberg’s calculations assume all three are equally weighted.