The National Development and Reform Commission announced on October 29 that starting from 24:00 on October 29, the prices of domestic gasoline and diesel (standard products) will be raised by 345 yuan and 335 yuan per ton respectively. This is the result of the government once again intervening to adjust refined oil prices.
According to calculations based on the current pricing mechanism, the prices of gasoline and diesel should have been raised by 440 yuan and 420 yuan per ton respectively this round. However, in order to balance the goals of reducing the burden on downstream users and ensuring the safe and stable supply of refined oil, the actual increase was compressed to 345 yuan and 335 yuan per ton after the adjustment. Gasoline rose 95 yuan less per ton, and diesel rose 85 yuan less per ton, with the actual adjustment range reduced by about 20% compared to the mechanism-based calculation.
Translated to the retail level, on a national average basis, 92-octane gasoline, 95-octane gasoline, and 0-grade diesel will each rise by approximately 0.27 yuan, 0.29 yuan, and 0.29 yuan per liter respectively. For a family car with a 50-liter fuel tank, filling up with 92-octane gasoline will cost about 13.5 yuan more. If calculated according to the unregulated increase that should have been applied, the per-liter increase would have been about 0.07 yuan higher, and filling up a tank would have cost about 3.5 to 4 yuan more. This adjustment directly reduced that extra burden for ordinary car owners.
Monitoring by the Price Monitoring Center of the National Development and Reform Commission shows that since the October 15 price adjustment, tensions in the Middle East have further escalated, with Brent crude oil futures once surging to $117 per barrel, close to the year's high. Industry insiders pointed out that against the backdrop of a sharp rise in the import costs of refining enterprises, this adjustment on the one hand minimizes the public's fuel expenditure as much as possible, and on the other hand moderately relieves costs to prevent refining enterprises from being unable to continue production and supply due to losses.
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