Fuel Prices Set to Rise Tonight: Authorities Announce Adjustments

Deep News09-11 22:21

Effective from tonight, the national authorities have implemented fresh adjustments to refined oil product pricing, responding to renewed volatility in global crude markets.

Since the last domestic fuel price recalibration on August 28, escalating tensions between the US and Iran have driven international crude prices sharply higher, with particularly unusual spikes observed in Middle East oil benchmarks.

To cushion the domestic economy and public welfare from the impact of surging global oil costs, temporary control measures have been introduced for domestic refined oil prices while preserving the existing pricing framework.

Under the standard price mechanism, gasoline and diesel reference prices for September 11 would have risen by 435 yuan and 420 yuan per tonne respectively. Following the temporary adjustments, the actual increases will be capped at 260 yuan and 250 yuan per tonne.

The National Development and Reform Commission will direct refiners and distributors to maximize fuel production and logistics, guaranteeing steady market supply. Meanwhile, it will collaborate with relevant agencies to intensify market supervision, cracking down on any violations of national pricing policies or other unlawful practices to preserve market order and safeguard consumer interests.

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