On 21 may, the national development and reform commission issued a press release stating that, based on the evolution of oil prices on the international market, the price of domestic gas and diesel fuel had been increased by $75 and $70 per ton, respectively, from 2400 hours on 21 may, equivalent to an increase of 0. 06 per litre for petrol 92 and 95. Following the increase, retail prices for gasoline no. 92 in most regions of the country were limited to $8. 6-8. 7 per litre. Based on a normal private car with a tank capacity of 50l, this increase would have cost the owners approximately $3 more to fill a tank。
According to the national commission for development and development, since the adjustment of prices for domestic finished oil on 8 may, there has been a fall in the price shock of crude oil on the international market, and the average price for the first 10 working days of the current increase is higher than the average price for the 10 working days prior to the last increase. This rotation rate was the tenth in 2026 and the eighth in 2026. After the current price adjustment, the price adjustment for finished products in 2026 will be “eight up and one down”。
At a time when the situation in the middle east remains highly uncertain, oil price shocks on the international market have intensified, and if international crude oil prices have risen significantly in the later stages, what other regulatory measures will the state take
It has been learned that the price-fixing mechanism for finished oils has set a price ceiling of $130 per barrel and that if the average international crude oil basket continues to rise significantly, above $130 per barrel (the corresponding domestic average retail price for gasoline 92 is slightly higher than $10 per litre), the maximum retail prices for domestic gas and diesel will not increase or be raised much higher for those above the ceiling。
The executive director of the china international carbon centre and economic research institute of the university of foreign economics and trade, dong xiong, indicated that the state could also adopt fiscal support measures to guarantee stable supply. During the sharp rise in international crude oil prices triggered by the soviet conflict in 2022, the state made it clear that the price of international crude oil would not rise in the short term (no more than two months) when it exceeded the regulatory ceiling of $130 per barrel, and that it would provide a phased subsidy to refineries。
