Starting at midnight tonight, retail fuel prices will see an actual hike of 260 yuan per tonne for gasoline and 250 yuan per tonne for diesel, a measured step to cushion the domestic market from surging global crude costs.

Since the last fuel price adjustment on August 28, renewed tensions between the US and Iran have sent international crude prices climbing sharply, with an especially pronounced spike emerging from the Middle East. To soften the impact of these rising global oil costs on the domestic economy and protect social livelihoods, temporary control measures have been introduced for domestic fuel pricing while keeping the existing pricing framework intact.

Under the standard pricing formula, gasoline and diesel (benchmark products) should have risen by 435 yuan and 420 yuan per tonne, respectively, on September 11. Following the temporary adjustment, the actual increases are reduced to 260 yuan and 250 yuan per tonne, respectively.

The National Development and Reform Commission is directing fuel producers and distributors to ramp up output and logistics to guarantee steady market supply. At the same time, authorities are intensifying market oversight and will take strict action against any illegal practices, including failure to comply with national pricing policies, ensuring orderly market conditions and safeguarding consumer interests.