China will reduce retail prices of gasoline and diesel effective Wednesday, April 22, 2026, in response to recent shifts in international oil markets, the National Development and Reform Commission (NDRC) announced on Tuesday. Gasoline prices will drop by 555 yuan ($80.91) per tonne, while diesel prices will decrease by 530 yuan per tonne, marking the latest adjustment under the country’s refined oil pricing mechanism.
The NDRC attributed the decision to sharp fluctuations in global crude oil prices over the past two weeks. Despite a rebound on April 20, average prices during the 10-day review period remained lower than the previous cycle, prompting the adjustment. This year’s pricing reforms aim to balance domestic energy costs with international market trends, ensuring stability for consumers and businesses.
State-owned energy giants China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation have been directed to prioritize production and distribution to maintain supply chain stability. Regional authorities will also intensify market inspections to prevent violations of pricing policies, safeguarding fair competition.
Analysts note that the cuts align with broader efforts to mitigate inflationary pressures and support economic growth. As global oil markets remain volatile, further adjustments may follow in the coming months.
