The NDRC reviews and adjusts retail gasoline and diesel prices every 10 working days. Its rate reflects changes in global crude prices and accounts for average processing costs, taxes, distribution expenses and appropriate profit margins.
China last raised the maximum gasoline and diesel prices on Apr 7, by 420 yuan per ton and 400 yuan per ton, respectively.
Oil prices have fallen from peaks seen earlier this month after the US and Iran reached a temporary ceasefire, though the outlook has turned more uncertain again.
Iran condemned the US for what it called an attack on the Iranian commercial vessel Touska, raising fresh doubts over whether the agreement will hold.
The US has maintained its blockade of Iranian ports, while Iran lifted and then soon reimposed its own blockade of the Strait of Hormuz, which typically handles roughly one-fifth of the world’s oil and liquefied natural gas supply.
Another month of disruption in the strategic waterway could push oil prices toward US$110 a barrel in the second quarter of 2026, Citi analysts said.
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