Temporary Measures Introduced to Stabilise Domestic Fuel Prices Amid Rising Oil Costs

Deep News09-11 20:40

Since the adjustment of domestic refined oil product prices on August 28, escalating conflicts between the US and Iran have led to sustained sharp increases in international crude oil prices, with particularly abnormal surges observed in prices from the Middle East region. To mitigate the impact of rising global oil costs on the domestic market and ensure stable economic operations and social welfare, temporary control measures for domestic refined oil product prices have been introduced while maintaining the existing pricing mechanism framework.

Calculated according to the current pricing mechanism, the standard prices for domestic gasoline and diesel were due to increase by 435 yuan and 420 yuan per tonne respectively on September 11. However, following the implementation of the temporary adjustments, the actual increases were set at 260 yuan and 250 yuan per tonne. After these adjustments, the retail prices in Anhui Province stand at 8.24 yuan per litre for 92-octane gasoline, 8.81 yuan per litre for 95-octane gasoline, and 8.01 yuan per litre for 0-diesel.

The National Development and Reform Commission will guide refined oil production and sales enterprises to make every effort to ensure sufficient production and transportation of fuel, guaranteeing stable market supply. Additionally, it will collaborate with relevant authorities to intensify market supervision and inspection efforts, strictly penalising any violations of national pricing policies or other illegal and non-compliant activities, in order to uphold market order and protect consumer interests.

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