Story perspectives

China Cuts Gasoline, Diesel Prices by 0.4 Yuan

6/6/2026

Summary

China Cuts Fuel

The National Development and Reform Commission announced that China will cut gasoline and diesel prices starting Friday.
The cuts lower the average by 0.41 yuan for 92-octane, 0.44 yuan for 95-octane, and 0.43 yuan for 0# diesel per liter.
A 50-liter fill of 92-octane gasoline will save 20.5 yuan for consumers.
The commission ordered China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation to maintain supply and enforce the policy.

Summary

China Fuel Cut

The domestic refined-oil price-adjustment window opened at 24:00 on June 4, marking the second 2026 cut.
Crude-oil’s rate fell 11.20% on the tenth working day, triggering a 525 RMB/ton gasoline cut.
Shandong independent refineries ran below 60% capacity while national gasoline and diesel stocks stayed at the upper range.
OPEC Secretary-General Haitham Al Ghais warned of a 1.8 million-bpd shortfall and a 2.6 million-bpd inventory draw as Brent rose to $95.42 and WTI to $93.15.

History

Historical Context

After global oil prices plunged in 2008, Beijing’s State Administration of Taxation cut fuel taxes, lowering gasoline by about 0.6 yuan per litre. The move echoed earlier tax-relief tactics used in Europe and recalled China’s 1994 tax reform, which trimmed the tax code from 37 to 23 levies. Today the NDRC orders another cut, while OPEC chief Haitham Al Ghais warns of tightening supplies.

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China Cuts Fuel

The National Development and Reform Commission announced that China will cut gasoline and diesel prices starting Friday.
The cuts lower the average by 0.41 yuan for 92-octane, 0.44 yuan for 95-octane, and 0.43 yuan for 0# diesel per liter.
A 50-liter fill of 92-octane gasoline will save 20.5 yuan for consumers.
The commission ordered China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation to maintain supply and enforce the policy.

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