China Poised to Increase Gasoline and Diesel Prices Nationwide

China’s NDRC confirms that gasoline and diesel prices will rise by 695 yuan and 670 yuan per ton respectively, reflecting international oil price gains amid U.S.-Iran tensions.

Summary

China's National Development and Reform Commission (NDRC) announced that gasoline prices will increase by ¥695 per ton and diesel by ¥670 per ton starting March 9. This adjustment translates to roughly ¥40 more for a 70‑liter fuel tank and follows global oil price increases influenced by escalating U.S.-Iran tensions.

Terms & Concepts
  • Fuel pricing mechanism (China): A government policy linking domestic fuel prices to global crude oil benchmarks, adjusted periodically based on market changes.
  • Per ton pricing: A pricing structure used in commodity markets where fuel prices are set per metric ton rather than per liter or gallon.