Retail fuel price hikes of $44.29 per ton for gasoline and $42.82 for diesel take effect July 18 amid a 12% weekly oil rally.
China will increase domestic retail prices for gasoline and diesel starting July 18, citing a 12% rise in global crude oil prices over the past week. The National Development and Reform Commission announced gasoline prices will climb by $44.29 per ton, while diesel prices will rise by $42.82 per ton.
The adjustments follow the agency’s regular pricing mechanism, which ties domestic fuel costs to international oil markets. Prior adjustments occurred in June, reflecting a period of relative stability before the recent price surge.
The move may pressure consumer spending and transportation costs, though no immediate market reaction was specified.