National Development and Reform Commission: The State Implements Temporary Regulatory Measures on Finished Oil Prices

National Development and Reform Commission: Since the domestic refined oil price adjustment on March 9, affected by the intensifying conflict between the US, Iran, and Israel, international crude oil prices have surged significantly, especially in the Middle East, reaching record highs. To mitigate the impact of abnormal international oil price increases, reduce the burden on downstream users, ensure stable economic operation, and safeguard social livelihoods, temporary regulatory measures have been taken on domestic refined oil prices based on the current pricing mechanism framework.

According to the current pricing mechanism, starting from 24:00 on March 23, the maximum retail prices for domestic gasoline and diesel (standard grades) should increase by 2,205 yuan and 2,120 yuan per ton, respectively. To ease the burden on downstream users, the government has implemented temporary price controls, with actual increases of 1,160 yuan and 1,115 yuan per ton for gasoline and diesel, respectively, which is 1,045 yuan and 1,005 yuan less than the theoretical maximum. This is roughly equivalent to a decrease of about 0.85 yuan per liter for both gasoline and diesel nationwide. For private car owners, based on a 50–60 liter tank, filling up with 92-octane gasoline can save about 40–50 yuan; for large truck drivers, with a 400–600 liter tank, filling up can save between 300 and 500 yuan.

The National Development and Reform Commission will guide refined oil production and sales enterprises to organize production and transportation efforts to ensure market supply. It will also cooperate with relevant departments to strengthen market supervision and inspection, strictly investigate violations such as non-compliance with national pricing policies, and effectively maintain market order and protect consumer interests.