China Raises Retail Fuel Prices as Global Crude Oil Benchmarks Rebound

China's National Development and Reform Commission announced an upward adjustment in domestic fuel prices effective midnight on August 28, 2026. Retail ceiling prices for standard gasoline and diesel were raised by 375 yuan and 360 yuan per metric tonne, respectively, driven by fluctuations in international crude benchmarks during the preceding ten working days. Under the adjustment, filling a typical 50-liter tank of 92-octane gasoline will cost drivers approximately 14.5 yuan more, with the next pricing window scheduled for September 11.

Fuel price adjustments directly influence daily commuting costs for private motorists and raise operational expenses across logistics, public transit, and industrial supply chains, exerting short-term pressure on transport-related consumer price indices.

China's top economic planner announced an increase in domestic refined oil retail ceiling prices, effective from midnight on August 28, 2026, following higher average international crude oil prices over the preceding ten working days. According to an official release by the Price Department of the National Development and Reform Commission (NDRC), retail ceiling prices for standard gasoline and diesel were raised by 375 yuan ($52.7) and 360 yuan per metric tonne, respectively. The price adjustment follows the pricing mechanism established to reflect changes in global crude markets since the prior adjustment window on August 14. As reported by People's Daily, the revision translates to an added expense of approximately 14.5 yuan for vehicle owners filling a standard 50-liter tank with 92-octane gasoline. Under China's regular pricing calendar, which evaluates market trends every ten working days, the next adjustment window is scheduled to open at 24:00 on September 11, 2026. The NDRC directed major state-owned oil enterprises—including China National Petroleum Corporation (PetroChina), China Petrochemical Corporation (Sinopec), and China National Offshore Oil Corporation (CNOOC)—alongside other domestic refineries to properly organize production and distribution to ensure stable market supply. The commission also mandated strict adherence to national pricing caps. Local market regulatory authorities were instructed to intensify oversight and market inspections to penalize unauthorized price gouging or failure to implement statutory price standards. Consumers encountering non-compliant pricing practices were encouraged to report violations through the national 12315 consumer supervision hotline.