After 12 a.m. tonight, filling up a full tank of gas will cost about 16 yuan more. The government has once again stepped in to ease the impact of rising fuel prices.

The National Development and Reform Commission issued a notice on April 7. Since the domestic refined oil price adjustment on March 23, international crude oil prices have fluctuated significantly. To mitigate the impact of international oil price increases on the domestic market, the national authorities continue to adopt control measures for refined oil prices. According to the calculation under the refined oil price mechanism, effective from 24:00 on April 7, the domestic gasoline and diesel (standard grade) prices should be raised by 800 yuan per ton and 770 yuan per ton, respectively. After the adjustment, the effective increases are 420 yuan and 400 yuan, respectively.

According to estimates by third-party institutions, after the control, the effective increases of 420 yuan/ton and 400 yuan/ton translate into per-liter price increases of 0.33 yuan for 92-octane gasoline, 0.35 yuan for 95-octane gasoline, and 0.34 yuan for 0-octane diesel.

Ma Jiancai, a refined oil analyst at Jialianchuang, told Securities Times reporter that after this round of price adjustment is implemented, the fuel costs for domestic end users will further increase, and retail oil prices will hit another intra-year high. After the adjustment takes effect, the price range for 92-octane gasoline will be about 8.8 yuan per liter to 9.0 yuan per liter, while the price range for 0-octane diesel will be 8.5 yuan per liter to 8.7 yuan per liter.

“Taking a small car with a 50-liter fuel tank as an example, filling a full tank will cost about 16.5 yuan more; for diesel, taking a large truck with a 160-liter fuel tank as an example, filling a full tank will cost about 54.4 yuan more,” Ma Jiancai said.

Liu Bingjuan, a refined oil analyst at Longzhong Information, said that from the supply side, the conflict between the U.S. and Iran still shows no signs of meaningful de-escalation, the Strait of Hormuz remains obstructed, and oil-producing countries in the Persian Gulf such as Saudi Arabia have already been forced to cut production significantly, with supply risk still increasing, supporting oil prices and continuing.

“From the demand side, global demand remains soft and the improvement is slow. In addition, the Middle East conflict has led refineries in multiple Asian countries to reduce operating load, leading to a decline in crude oil consumption. In the short term, the U.S. Federal Reserve also is unlikely to cut interest rates, and the view that support for rate hikes is increasing,” she said.

On April 5, local time, the Organization of the Petroleum Exporting Countries (OPEC) issued a statement saying that eight major “OPEC+” oil-producing countries decided to increase crude oil production by 206k barrels per day on average in May. By that point, the eight countries had announced production increases for two consecutive months.

On that day, representatives from Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman held an online meeting to discuss the current situation and prospects of the international oil market. After the meeting, the statement said that the eight countries emphasized the importance of protecting international sea lanes and ensuring the free flow of energy. The eight countries expressed concern about attacks on energy infrastructure. Fully restoring damaged energy infrastructure is not only costly but also very time-consuming, affecting overall global supply.

The statement also mentioned that any action that undermines energy supply security—whether by attacking infrastructure or disrupting international sea lanes—will further intensify market volatility and affect producers, consumers, and the global economy. The relevant oil-producing countries have proactively taken measures to ensure that energy supply remains continuously stable, especially by using alternative export routes to ease market volatility.

“ OPEC+ ” consists of OPEC member countries and non-OPEC oil-producing countries such as Russia. In March 2025, the eight countries decided to gradually increase crude oil production starting from April 1 of that year. After that, the eight countries kept increasing production every month until December. From January to March 2026, the eight countries announced a pause in production increases due to seasonal factors. In March, the eight countries decided to increase production by an average of 206k barrels per day in April.