The National Development and Reform Commission (NDRC) has instructed the three major oil companies—China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec), and Ch

CoinFeed reported on March 9th that the National Development and Reform Commission (NDRC) stated today that the three major oil companies—China National Petroleum Corporation (CNPC), Sinopec, and CNOOC—as well as other crude oil processing enterprises, must organize the production and transportation of refined oil products to ensure stable market supply and strictly implement national price policies. Relevant departments in various regions should strengthen market supervision and inspection, severely punish any violations of national price policies, and maintain normal market order. Consumers can report price violations through the 12315 platform. Domestic retail prices of refined oil products will increase at 24:00 on March 9th. According to the NDRC Price Monitoring Center, international oil prices have risen sharply during this pricing cycle due to the escalating conflict between the US and Iran. Starting at 24:00 on March 9th, domestic retail prices of gasoline and diesel will increase by 695 yuan and 670 yuan per ton respectively. On average nationwide, the prices of 92-octane gasoline, 95-octane gasoline, and 0# diesel will increase by 0.55 yuan, 0.58 yuan, and 0.57 yuan respectively.