Since the domestic refined oil price adjustment on October 15, escalating geopolitical tensions in the Middle East have driven international crude oil prices sharply higher.
To cushion the impact on the domestic market, the state has once again taken regulatory measures on refined oil prices.
According to calculations under the current pricing mechanism, starting from 24:00 on October 29, the prices of domestic gasoline and diesel (standard grade) should have been raised by 440 yuan and 420 yuan per ton respectively.
After balancing the need to ease the burden on downstream users with the need to ensure a safe and stable supply of refined oil, the actual increases after regulation were 345 yuan and 335 yuan per ton.
PetroChina, Sinopec, CNOOC and other crude oil processing enterprises must organize refined oil production and distribution well, ensure stable market supply, and strictly implement national pricing policies.
Relevant departments in all regions must intensify market supervision and inspection, severely investigate and punish acts that fail to implement national pricing policies, and maintain normal market order.
Consumers can report price violations through the 12315 platform.
Zhejiang Province Refined Oil Price Adjustment
According to the announcement published by the News Release Center on the official website of the National Development and Reform Commission, titled "October 29, 2026: The State Once Again Implements Regulation, Refined Oil Prices Adjusted Appropriately," in order to alleviate the impact of recent international oil price increases on the domestic market, the state has once again taken regulatory measures on refined oil prices.
According to calculations under the current pricing mechanism, starting from 24:00 on October 29, the prices of domestic gasoline and diesel (standard grade, the same below) should have been raised by 440 yuan and 420 yuan per ton respectively.
After balancing the need to ease the burden on downstream users with the need to ensure a safe and stable supply of refined oil, the actual increases after regulation were 345 yuan and 335 yuan per ton.
The maximum retail prices of non-standard gasoline and diesel are also adjusted accordingly based on the quality ratios stipulated by the state.
See the attached table for details.
Attached Table: Zhejiang Province Maximum Wholesale and Retail Prices of Gasoline and Diesel
Zhejiang Provincial Development and Reform Commission
October 29, 2026
Attached Table Notes:
1. The above prices take effect from 24:00 on October 29, 2026;
2. The gasoline and diesel prices in the table are for VIB motor gasoline and VI vehicle diesel that meet the mandatory national standards of Phase VI;
3. The Phase VI standard products for gasoline and diesel are No. 89 gasoline and No. 0 vehicle diesel respectively;
4. The price of No. 98 gasoline is subject to market-adjusted pricing.
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