News from March 4th: Starting from midnight on March 4th, the price per ton of gasoline will increase by 125 CNY, and diesel will go up by 120 CNY.
For a typical private car with a 50L tank, this adjustment means the cost to fill up will increase by about 5 CNY. For diesel trucks with a 160L tank, filling up will now cost an additional 16 CNY.
This round marks the fifth adjustment in 2024, setting a pattern of "three increases, one decrease, one stagnation" for domestic fuel prices this year. The next adjustment window for domestic fuel prices is scheduled for midnight on March 18th.
Given the complex international situation and the possibility that the Organization of Petroleum Exporting Countries (OPEC+) and its partners might extend production cuts, a tight supply situation continues.
Experts are speaking out, predicting a high likelihood of another increase in fuel prices in the next adjustment period.
"Looking at the overall cycle, the average price of the benchmark oil types has shifted upwards, with the corresponding composite change rate for crude oil moving into a positive range, triggering the opening of this round's retail price increase window," said one expert.
