Effective from 24:00 on May 8, China has increased the retail prices of gasoline and diesel by 320 yuan and 310 yuan per ton, respectively. On a national average basis, the prices per liter for 92-grade gasoline, 95-grade gasoline, and 0-grade diesel have risen by 0.25 yuan, 0.27 yuan, and 0.27 yuan. Based on calculations, refueling a 50-liter tank with 92-grade gasoline will now cost an additional 12.5 yuan. According to analysis by the Price Monitoring Center of the National Development and Reform Commission, the primary factor influencing international oil price trends is the progress of U.S.-Iran negotiations. The two nations are currently engaged in strategic maneuvering over a ceasefire memorandum of understanding, with significant disagreements on issues such as nuclear programs, control of the Strait of Hormuz, and the lifting of sanctions, making the negotiation foundation fragile. Additionally, a military clash occurred between the U.S. and Iran in the Strait of Hormuz on May 7, introducing further uncertainty to geopolitical tensions and oil price movements, which warrants continued monitoring.
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