According to the recent changes in the international market oil prices, according to the current mechanism for the formation of refined oil prices, since 22:00 on June 8, 2016, domestic gasoline and diesel prices (standard products, the same below) have increased by RMB110 per ton. After the adjustment, the maximum retail prices of gasoline and diesel in all provinces (autonomous regions, municipalities) and central cities are shown in the attached table. The relevant price linkage and subsidy policies shall be implemented in accordance with the current regulations.

The PetroChina, Sinopec and CNOOC three major companies must organize the production and transportation of refined oil products to ensure a stable supply of the market and strictly implement the national price policy. The competent price departments at all levels should increase the supervision and inspection of the market, severely investigate and punish acts that do not implement state price policies, and maintain the normal market order. Consumers can report price violations through the 12358 price monitoring platform.

We are closely following the operating conditions of the refined oil price formation mechanism and combining the changes in the domestic and international oil market conditions to further study and improve.

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