Gasoline and diesel prices in China have been raised.

Effective from midnight on July 17, the prices for domestic gasoline and diesel (standard product) have been increased by 300 yuan and 290 yuan per tonne, respectively, according to the National Development and Reform Commission. This adjustment is based on changes in international oil market prices.

An energy chief analyst from Longzhong Information, Liu Bingjuan, explained that since the last domestic refined oil price adjustment on July 3, international crude oil prices have experienced volatile increases due to renewed tensions in the Middle East. The average price over the 10 working days preceding this latest adjustment was higher than the average for the corresponding period before the previous adjustment, leading to the corresponding increase in refined oil product prices.

The maximum retail prices for domestic gasoline and diesel (standard product) have been raised by 300 yuan and 290 yuan per tonne. This translates to an increase of approximately 0.24 yuan per liter for 92-octane gasoline and 0.25 yuan per liter for 0-grade diesel.

Liu Bingjuan noted that during this pricing cycle, international oil prices saw a single-day surge of nearly 10%. However, the average increase over the 10-working-day period was not as substantial, which is why the domestic refined oil price adjustment was not more pronounced.

The relevant official from the National Development and Reform Commission stated that companies including PetroChina, Sinopec, and CNOOC, along with other crude oil processing enterprises, must organize the production and distribution of refined oil products effectively to ensure stable market supply and strictly implement the national pricing policy.

Local authorities across the country are instructed to intensify market supervision and inspection efforts, severely crack down on any violations of the national price policy, and maintain normal market order.

Consumers can report any suspected price violations through the 12315 platform.