Starting from midnight on August 14, domestic petrol and diesel prices will see a reduction of 230 yuan and 220 yuan per tonne, respectively, according to the National Development and Reform Commission (NDRC).

The adjustment follows a sharp decline in international crude oil prices after the previous domestic fuel price change on July 31, with the average price over the past 10 working days falling below the average of the previous adjustment period. Citing changes in global oil markets, the NDRC announced the new price cuts to take effect from 24:00 on August 14.

Major oil companies, including PetroChina, Sinopec, and CNOOC, along with other refining enterprises, have been directed to ensure stable production and distribution of refined oil products to maintain market supply. They are also required to strictly adhere to national pricing policies.

Local authorities are urged to intensify market supervision and enforcement, cracking down on any violations of the pricing regulations to preserve normal market order. Consumers can report suspected price irregularities through the 12315 platform.