Starting today at 24:00, the National Development and Reform Commission raised refined oil prices; gasoline increased by 75 yuan per ton and diesel by 70 yuan per ton.

The National Development and Reform Commission announced that starting at 24:00 on May 21, domestic prices of gasoline and diesel (standard grades) will be raised by 75 yuan and 70 yuan per ton respectively. The Commission explained that during the current pricing cycle (from May 8 onward), the average international crude oil price over the first 10 working days exceeded the benchmark set in the previous adjustment, thus triggering this round of price hikes. Meanwhile, the Commission directed China National Petroleum Corporation, Sinopec, CNOOC, and other crude oil processing enterprises to ensure stable production and distribution of refined petroleum products. Local authorities are required to strengthen oversight and law enforcement regarding pricing; consumers may report any price violations via the 12315 platform.

Cailian Press