Fuel Prices Set to Rise Starting August 1st

Deep News07-31 22:20

Since the adjustment of domestic refined oil product prices on July 17th, the international crude oil market has experienced significant volatility, with prices surging for several consecutive days before retreating, only to climb again recently. The average price over the 10 working days before this adjustment was higher than the average over the 10 working days before the previous adjustment.

Based on the changes in international oil market prices, effective from 24:00 on July 31st, the prices of domestic gasoline and diesel (standard products) will be increased by 685 yuan and 655 yuan per ton, respectively.

Companies such as PetroChina, Sinopec, and CNOOC, along with other crude oil processing enterprises, must organize the production and transportation of refined oil products to ensure stable market supply and strictly implement national price policies.

Local authorities in relevant departments should intensify market supervision and inspection efforts, strictly penalizing any behavior that fails to comply with national price policies, in order to maintain normal market order. Consumers can report price violations through the 12315 platform.

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