China's Oil Price Hike Streak Ends with First Reduction of 2026
China's National Development and Reform Commission (NDRC) has announced the first reduction in gasoline and diesel prices for 2026, ending a streak of six consecutive increases. Effective from midnight on April 21, the move is expected to save drivers around 22 yuan when filling a 50-liter tank.
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- 📰 Published: April 21, 2026 at 17:31
- 🔍 Collected: April 21, 2026 at 18:02 (30 min after Published)
- 🤖 AI Analyzed: April 21, 2026 at 20:38 (2h 36m after Collected)
(Central News Agency, Shanghai, 21st, reporter Li Yawen) The streak of six consecutive increases in China's oil prices has come to an end with the first reduction of the year. China's National Development and Reform Commission (NDRC) announced that from midnight on the 21st, the prices of gasoline and diesel (standard grade) per metric ton will be reduced. Experts estimate that filling a 50-liter tank of a private car can save RMB 22 (approximately NT$101).
The NDRC announced this afternoon that, based on changes in international market oil prices, the prices of gasoline and diesel (standard grade) will be reduced by 555 yuan and 530 yuan per metric ton, respectively, starting from midnight on the 21st (00:00 on the 22nd).
The NDRC stated that since the domestic refined oil price adjustment on the 7th, international crude oil prices have fluctuated sharply. After a significant drop a few days ago, prices saw another substantial increase on the 20th. However, the average price over the 10 working days preceding this adjustment is still lower than the average price over the 10 working days before the last adjustment.
China's oil prices are adjusted every 10 working days. Today marks the 8th oil price adjustment announcement day of the year, and it is the first price reduction. Prior to this, China's oil prices had seen six consecutive increases.
P澎湃新聞 (The Paper) reported on the 21st that, based on the national average, the NDRC's announced adjustments translate to a reduction of 0.44 yuan, 0.46 yuan, and 0.45 yuan per liter for 92-octane gasoline, 95-octane gasoline, and 0-grade diesel, respectively.
Xu Lei, a refined oil analyst at ZCHG, stated that after this price adjustment, filling a 50-liter tank of a private car once will save 22 yuan, reducing commuting costs for the public and travel expenses for the May Day holiday.
Xu Lei pointed out that the market continues to monitor the tense geopolitical situation in the Middle East. Shipping in the Strait of Hormuz is currently at a standstill, but the spillover effects of geopolitical risks have subsided compared to before.
The Paper's report mentioned that the Middle East conflict led to a sharp rise in international crude oil prices, and the Chinese government had twice intervened to regulate refined oil prices, announcing control measures during the price adjustments on March 23rd and April 7th. (Editor: Chiu Kuo-chiang) 1150421
The NDRC announced this afternoon that, based on changes in international market oil prices, the prices of gasoline and diesel (standard grade) will be reduced by 555 yuan and 530 yuan per metric ton, respectively, starting from midnight on the 21st (00:00 on the 22nd).
The NDRC stated that since the domestic refined oil price adjustment on the 7th, international crude oil prices have fluctuated sharply. After a significant drop a few days ago, prices saw another substantial increase on the 20th. However, the average price over the 10 working days preceding this adjustment is still lower than the average price over the 10 working days before the last adjustment.
China's oil prices are adjusted every 10 working days. Today marks the 8th oil price adjustment announcement day of the year, and it is the first price reduction. Prior to this, China's oil prices had seen six consecutive increases.
P澎湃新聞 (The Paper) reported on the 21st that, based on the national average, the NDRC's announced adjustments translate to a reduction of 0.44 yuan, 0.46 yuan, and 0.45 yuan per liter for 92-octane gasoline, 95-octane gasoline, and 0-grade diesel, respectively.
Xu Lei, a refined oil analyst at ZCHG, stated that after this price adjustment, filling a 50-liter tank of a private car once will save 22 yuan, reducing commuting costs for the public and travel expenses for the May Day holiday.
Xu Lei pointed out that the market continues to monitor the tense geopolitical situation in the Middle East. Shipping in the Strait of Hormuz is currently at a standstill, but the spillover effects of geopolitical risks have subsided compared to before.
The Paper's report mentioned that the Middle East conflict led to a sharp rise in international crude oil prices, and the Chinese government had twice intervened to regulate refined oil prices, announcing control measures during the price adjustments on March 23rd and April 7th. (Editor: Chiu Kuo-chiang) 1150421