Since the last adjustment to domestic refined oil prices on September 11, the complex and volatile geopolitical situation in the Middle East has driven international crude prices to spike rapidly before retreating, only to surge once again in recent days. To cushion the domestic market against the impact of rising global oil costs, the state has continued its temporary regulatory measures on domestic refined oil prices.

Based on the current pricing mechanism, starting from 24:00 on September 24, the standard-product prices for domestic gasoline and diesel should have increased by 830 yuan and 800 yuan per tonne, respectively. However, following the application of the temporary controls, the actual increases will be capped at 395 yuan and 385 yuan per tonne.

The National Development and Reform Commission will direct refined oil producers and distributors to make every effort in production and transportation to secure stable market supply. It will also collaborate with relevant authorities to intensify market oversight, cracking down on illegal activities such as non-compliance with national pricing policies, in order to uphold market order and protect consumer interests.