China will reduce retail gasoline and diesel prices starting Tuesday, a move tied to recent fluctuations in international oil markets, according to the National Development and Reform Commission (NDRC). The adjustment marks the latest effort to balance domestic energy costs with global economic trends.
Gasoline prices will drop by 230 yuan ($32) per metric ton, while diesel will decrease by 220 yuan per ton. The NDRC emphasized that state-owned energy giants—including China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation—will prioritize stable production and distribution to avoid supply disruptions.
China’s fuel pricing mechanism, which links domestic rates to international crude oil benchmarks, ensures transparency amid volatile markets. Authorities also pledged stricter oversight to prevent price-gouging and maintain fair competition, underscoring commitments to both consumers and businesses.
This reduction arrives as global oil prices face downward pressure from geopolitical shifts and fluctuating demand. Analysts suggest the cuts could ease operational costs for industries reliant on transportation and logistics, potentially stimulating economic activity across the Chinese mainland.
