Domestic Gasoline and Diesel Prices Cut Effective June 4 at 24:00; Grade 92 Gasoline Down ¥0.41 per Liter

According to a notice from the National Development and Reform Commission (NDRC), effective at 24:00 on June 4, domestic gasoline and diesel (standard grades) prices will be reduced by RMB 525 and RMB 505 per tonne, respectively. On a national average basis, this translates to a reduction of approximately RMB 0.41, RMB 0.44, and RMB 0.43 per liter for Grade 92 gasoline, Grade 95 gasoline, and Grade 0 diesel, respectively. Filling up a typical 50-liter passenger vehicle fuel tank with Grade 92 gasoline will save about RMB 20.5. For a heavy-duty truck traveling 10,000 kilometers per month with a fuel consumption of 38 liters per 100 kilometers, fuel expenses are expected to decrease by approximately RMB 763 over the next half-month operating cycle. The NDRC has instructed China National Petroleum Corporation (CNPC), Sinopec, CNOOC, and other crude oil refiners to ensure stable production and distribution of refined oil products and strictly comply with the state’s pricing policy. Local authorities will strengthen market supervision, rigorously investigate pricing violations, and consumers may report any irregularities through the 12315 platform. This price adjustment is based on the fact that the average international crude oil price over the 10 working days preceding this adjustment was lower than that during the corresponding period of the previous pricing cycle.