According to an announcement from the National Development and Reform Commission, crude oil prices on the international market have been fluctuating since the last domestic fuel price adjustment on August 14th. The average price over the 10 working days preceding this adjustment was higher than the average from the previous 10 working-day period.
As a result of these changes in international oil prices, the retail prices of domestic gasoline and diesel will increase by 375 yuan and 360 yuan per tonne, respectively, effective from 24:00 on August 28th.
Following this confirmed hike in the retail price ceiling for refined oil products, a private car owner filling up a standard 50-liter tank with 92-octane gasoline will now face an additional cost of 14.5 yuan per fill-up.