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March 4, 2021

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Gasoline, diesel prices go up today

China will raise the retail prices of gasoline and diesel from today, the country’s top economic planner said yesterday.

Based on recent changes in international oil prices, the retail prices of gasoline and diesel will be increased by 260 yuan (US$40.27) and 250 yuan per ton, respectively, according to the National Development and Reform Commission.

This marks the fourth fuel price increase this year.

Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per ton and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly.

China’s three oil giants, namely China National Petroleum Corp, China Petrochemical Corp and China National Offshore Oil Corp, have been asked to maintain oil production and facilitate transportation to ensure stable supplies.


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