The National Development and Reform Commission of China announced temporary control measures for domestic refined oil prices. This decision follows a significant rise in international crude oil prices, driven by escalating tensions between the United States and Iran, particularly in the Middle East.
Under the current pricing mechanism, gasoline and diesel prices were scheduled to increase by ¥435 and ¥420 per ton, respectively. However, following the intervention, the actual increase is limited to ¥260 for gasoline and ¥250 for diesel, effective from midnight on September 11.
The commission stated that these measures aim to mitigate the impact of rising global oil costs on the domestic economy and public welfare. Authorities will oversee production and distribution to ensure stable market supply and prevent price violations.
