China caps gasoline and diesel price hikes at 395 and 385 yuan per ton amid global oil volatility
China's National Development and Reform Commission (NDRC) announced on September 24 that domestic gasoline and diesel prices would rise by 395 yuan and 385 yuan per ton, respectively, effective from 24:00. The increases were significantly lower than the calculated adjustments of 830 yuan and 800 yuan per ton under the existing pricing mechanism. The NDRC cited complex and volatile geopolitical conditions in the Middle East driving international crude oil price swings. Major state-owned oil companies were instructed to ensure stable supply and comply with pricing policies.
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China Adjusts Fuel Prices to Mitigate Impact of Rising International Oil Prices
According to a report from China News Service on September 24, citing the National Development and Reform Commission (NDRC), China has implemented regulatory measures on domestic refined oil prices to mitigate the impact of rising international crude oil prices. Since the last price adjustment on September 11, the Middle East geopolitical situation has been complex and volatile, causing international crude oil prices to rise rapidly, then fall, and recently surge again. Based on the current pricing mechanism, gasoline and diesel (standard product) prices should have increased by 830 yuan and 800 yuan per ton respectively from 24:00 on September 24. However, after regulatory intervention, the actual increases were limited to 395 yuan and 385 yuan per ton. The NDRC instructed major oil companies including PetroChina, Sinopec, and CNOOC to ensure stable market supply and strictly enforce pricing policies. Local authorities are urged to strengthen market supervision and crack down on price violations. Consumers can report illegal pricing activities via the 12315 platform. The article also includes a table of maximum retail prices for gasoline and diesel across provinces and central cities.
Read sourceChina Continues Regulation, Adjusts Domestic Fuel Prices Moderately
According to a report from East Money News, citing the National Development and Reform Commission (NDRC), China has continued its regulatory measures on domestic refined oil product prices. Since the last adjustment on September 11, international crude oil prices have experienced rapid increases followed by a decline, and have recently surged again due to complex and volatile geopolitical situations in the Middle East. To mitigate the impact of rising international oil prices on the domestic market, the NDRC announced that, based on the current pricing mechanism, the standard prices for gasoline and diesel should have been raised by 830 yuan and 800 yuan per ton respectively starting from 24:00 on September 24. However, after regulatory intervention, the actual increases were set at 395 yuan per ton for gasoline and 385 yuan per ton for diesel. The report states that major oil companies including PetroChina, Sinopec, and CNOOC are required to organize production and transportation to ensure stable market supply and strictly implement the national pricing policy. Local authorities are instructed to strengthen market supervision and severely crack down on price violations. Consumers can report illegal pricing activities via the 12315 platform.
Read sourceChina Adjusts Fuel Prices to Mitigate Impact of Rising International Oil Costs
China's National Development and Reform Commission (NDRC) announced on September 24 that it will continue to regulate domestic refined oil product prices to cushion the impact of rising international oil prices. According to the current pricing mechanism, gasoline and diesel (standard product) prices should have increased by 830 yuan and 800 yuan per ton respectively from 24:00 on September 24, but after regulatory intervention, the actual increases were limited to 395 yuan and 385 yuan per ton. The NDRC attributed the price pressure to complex and volatile geopolitical situations in the Middle East, which caused international crude oil prices to surge, then fall, and recently rise again. The NDRC ordered state-owned oil companies (CNPC, Sinopec, CNOOC) to ensure stable supply and strictly implement pricing policies. Local authorities are instructed to intensify market supervision and punish violations. Consumers can report price violations via the 12315 platform. The NDRC's Price Monitoring Center assessed that geopolitical uncertainties remain high, and the impact of Middle East developments on international oil prices requires continued close monitoring.
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China Adjusts Fuel Prices, Capping Increases to Mitigate Global Oil Impact
China's National Development and Reform Commission (NDRC) announced a controlled adjustment to domestic refined oil prices, effective from 24:00 on September 24. According to the current pricing mechanism, gasoline and diesel prices (standard product) should have increased by 830 yuan and 800 yuan per ton, respectively. However, the government implemented a smaller increase of 395 yuan per ton for gasoline and 385 yuan per ton for diesel. The NDRC stated this measure is intended to mitigate the impact of rising international oil prices on the domestic economy, citing complex and volatile geopolitical situations in the Middle East that have caused crude oil prices to surge, fall, and then rise again since the last adjustment on September 11. The NDRC will guide production and sales enterprises to ensure stable supply and will cooperate with relevant departments to enforce price policies and penalize violations, aiming to maintain market order and protect consumer interests.
Read sourceChina Adjusts Fuel Prices Upward to Mitigate Global Oil Price Impact
According to a report published by Sohu Finance and sourced from Heilongjiang Release, China's National Development and Reform Commission (NDRC) has implemented a new round of price adjustments for domestic refined oil products, effective from 24:00 on September 24. Since the last adjustment on September 11, international crude oil prices have experienced rapid increases followed by a decline, and have recently surged again due to complex and volatile geopolitical situations in the Middle East. To mitigate the impact of rising international oil prices on the domestic market, the government has continued its regulatory measures. Based on the current pricing mechanism, gasoline and diesel (standard product) prices should have been raised by 830 yuan and 800 yuan per ton, respectively. However, after regulatory intervention, the actual increases were 395 yuan per ton for gasoline and 385 yuan per ton for diesel. The NDRC stated it will guide production and sales enterprises to ensure stable supply and will cooperate with relevant departments to intensify market supervision, cracking down on violations of pricing policies to protect consumer interests.
Read sourceChina adjusts refined oil prices upward; next round likely to see a cut, analysts say
China's National Development and Reform Commission announced an upward adjustment in domestic refined oil product prices effective 24:00 on September 24, 2024. Gasoline and diesel prices per ton will rise by 395 yuan and 385 yuan respectively, lower than the calculated increases of 830 yuan and 800 yuan due to state调控 measures. This translates to a per-liter increase of 0.31 yuan for 92-octane gasoline, 0.33 yuan for 95-octane gasoline, and 0.33 yuan for diesel. Analysts from JLC Network Technology and Zhicheng Consulting attributed the move to locked-in crude price gains from earlier in the adjustment cycle, despite recent international crude price declines driven by easing Middle East tensions and supply recovery expectations. They forecast that international crude will remain volatile between $80-$110 per barrel in September-October due to unresolved U.S.-Iran differences and Strait of Hormuz disruptions. The adjustment raises the 2024 price change tally to 14 increases, 5 decreases, and 1 unchanged. For consumers, filling a 50-liter tank costs an extra 15.5 yuan. Looking ahead, analysts expect the next adjustment window on October 15 to likely see a price cut, as recent international crude declines will be factored into the next cycle.
Read sourceChina to Raise Fuel Prices Moderately on September 24 Amid Global Oil Volatility
According to the National Development and Reform Commission (NDRC), since the last domestic refined oil price adjustment on September 11, the geopolitical situation in the Middle East has been complex and volatile, causing international crude oil prices to rise rapidly, then fall, and recently surge again. To mitigate the impact of rising international oil prices on the domestic market, China continues to implement regulatory measures on refined oil prices. Based on the current pricing mechanism, from 24:00 on September 24, domestic gasoline and diesel (standard product) prices should have increased by 830 yuan and 800 yuan per ton respectively, but after regulatory intervention, the actual increases are 395 yuan and 385 yuan per ton. The NDRC instructed PetroChina, Sinopec, CNOOC, and other oil processing enterprises to organize production and transportation to ensure stable market supply and strictly implement national pricing policies. Local authorities are urged to strengthen market supervision and severely punish violations of pricing policies. Consumers can report illegal pricing activities via the 12315 platform.
Read sourceChina's NDRC to Raise Gasoline and Diesel Prices by 395 and 385 Yuan per Ton
China's National Development and Reform Commission (NDRC) announced on September 24, 2026, that it will raise domestic gasoline and diesel (standard product) prices by 395 yuan and 385 yuan per ton, respectively, effective from 24:00 on the same day. According to the current pricing mechanism, the calculated adjustment would have been an increase of 830 yuan per ton for gasoline and 800 yuan per ton for diesel. However, after regulatory intervention, the actual increases were set at 395 yuan and 385 yuan per ton. The announcement was made via the official state media outlet cfi_industry (中财网-行业新闻). This price adjustment reflects the government's managed approach to fuel pricing, balancing international crude oil price fluctuations with domestic economic conditions.
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