China Adjusts Fuel Prices Amid Geopolitical Tensions
Chinese authorities have intervened to limit domestic fuel price increases following global market volatility. The adjustment takes effect at midnight.
China's National Development and Reform Commission announced on September 24 that it will continue to implement price controls on refined oil products. This decision comes as international crude oil prices have experienced rapid fluctuations due to evolving geopolitical situations in the Middle East.
The commission stated that without intervention, domestic gasoline and diesel prices would have been expected to rise by 830 yuan and 800 yuan per ton, respectively. However, through the implemented controls, the actual price increase has been capped at 395 yuan per ton for gasoline and 385 yuan per ton for diesel.
The adjusted prices are set to take effect from midnight on September 24. The government has instructed oil producers and distributors to ensure stable supply and to enforce compliance with pricing policies, aiming to protect consumer interests and maintain market order.