Influenced by the crashing of the international oil price and expected adjustments of domestic oil prices, Chinese refined oil traders are stopping purchasing. Experts predicted that oil prices will be adjusted by the end of the month, the 21st Century Business Herald reported.

The paper quoted a trader in Shandong province as saying that he is contacting his customers and trying to sell out refined oil to evade price risks, because he thinks the oil price will fall soon.

The National Development and Reform Commission said on August 8 that the decline of international oil prices has not reached the limit of 4 percent. If the global fluctuation continues, the government will immediately reduce the domestic crude oil price, the paper said.

The paper quoted SCI, a portal of China commodity information, as saying that if the international oil price falls down a bit, remaining at about $105 a barrel, the price of domestic refined oil is likely to be adjusted on August 29 at the earliest; or the adjustment may come sooner, around August 25 on the condition that the global price continues falling to about 103 dollar a barrel.