Oil Prices Set to Rise Tonight: Fuel Costs Climb From Midnight

Deep News
Aug 28

A new round of adjustments to domestic refined oil product prices will take effect at 24:00 today, with the latest data confirming an increase in fuel costs. According to the National Development and Reform Commission, international crude oil prices have been fluctuating since the previous adjustment on August 14, with the average price over the 10 working days preceding this adjustment surpassing the average from the prior period.

Effective from 24:00 on August 28, the prices of domestic gasoline and diesel (standard products) will rise by 375 yuan and 360 yuan per tonne, respectively. On a national average basis, this translates to increases of 0.29 yuan per litre for 92-octane gasoline, 0.31 yuan per litre for 95-octane gasoline, and 0.31 yuan per litre for 0-diesel.

With this confirmed hike in retail fuel price caps, a private car owner filling a standard 50-litre tank with 92-octane gasoline will now spend an additional 14.5 yuan per refuel. So far this year, domestic refined oil prices have undergone ten increases, five decreases, and one period of no adjustment. After offsetting gains and losses, the cumulative rise for 92-octane gasoline in Zhejiang Province, for instance, amounts to 1.07 yuan per litre.

Once tonight's increase takes effect, the annual pattern will shift to eleven increases, five decreases, and one pause. Currently, in Zhejiang Province, 92-octane gasoline is priced at 7.75 yuan per litre, 95-octane gasoline at 8.25 yuan per litre, and 0-diesel at 7.43 yuan per litre. Following tonight's adjustment, 92-octane gasoline in the province will once again cross the 8 yuan per litre threshold. Drivers of petrol vehicles are advised to fill up their tanks today. The following fuel-saving tips are recommended for general reference.

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