Fuel Prices Set to Rise Tonight

Deep News07-31 22:41

Starting tonight, refined oil prices in China will increase.

According to the National Development and Reform Commission, the price adjustment window for domestic refined oil products opens at midnight on July 31. Monitoring by the NDRC Price Monitoring Center shows that during this pricing cycle (from July 17 to July 31), international oil prices experienced more gains than losses with periodic volatility, driven by factors such as the recurring US-Iran military conflicts. The average price for this cycle was significantly higher than the previous one.

Effective from midnight on July 31, the retail price caps for gasoline and diesel in China will rise by 685 yuan and 655 yuan per tonne, respectively. On a national average basis, 92-octane gasoline, 95-octane gasoline, and 0-diesel will increase by 0.54 yuan, 0.57 yuan, and 0.56 yuan per liter, respectively.

Filling up a standard 50-liter tank of 92-octane gasoline will now cost an additional 27 yuan per fill-up.

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