Domestic Fuel Prices Rise for Third Consecutive Time, Adding ~$1 to Fill a Tank

Effective at 24:00 on February 24, domestic gasoline and diesel prices saw their third increase of the year, rising by RMB 175 and RMB 170 per ton, respectively. On a national average basis, retail prices for Grade 92 gasoline, Grade 95 gasoline, and Grade 0 diesel each rose by RMB 0.14, RMB 0.15, and RMB 0.14 per liter, respectively. For a typical passenger car with a 50-liter fuel tank, filling up with Grade 92 gasoline will now cost approximately RMB 7 more. This price adjustment follows the upward volatility in international crude oil prices between February 3 and February 23, prompting the National Development and Reform Commission (NDRC) to initiate this round of retail price adjustments.