Starting from 24:00 on August 14, domestic petrol and diesel prices will be reduced by 230 yuan per tonne and 220 yuan per tonne, respectively, according to a notice from the National Development and Reform Commission (NDRC).

Since the last adjustment on July 31, international crude oil prices have experienced a rapid decline followed by volatile movements. The average price over the 10 working days before this adjustment was lower than the average price recorded in the previous 10 working days, triggering the price cut in line with changes in global oil markets.

The NDRC has instructed major oil companies, including PetroChina, Sinopec, and CNOOC, as well as other refining enterprises, to ensure stable production and transportation of refined oil products, strictly enforce national pricing policies, and maintain a steady market supply.

Local authorities are required to step up market supervision and inspections, cracking down on any violations of state pricing regulations to uphold normal market order. Consumers are encouraged to report any illegal pricing activities through the 12315 consumer complaint platform.

The NDRC also released a list of the maximum retail prices for petrol and diesel in various provinces, autonomous regions, and central cities.