The Chinese government has raised retail oil prices for the fifth consecutive time amid Middle East tensions, driving China’s standard gasoline price above 9,900 yuan per ton.
On 24 March 2026, the Chinese government announced a retail gasoline price increase domestically, resulting in prices at Beijing pumps rising to 8.57 yuan per liter, about 42 baht per liter. Meanwhile, the standard gasoline price increased by roughly 13% to 9,905 yuan per ton, approximately 49,000 baht per ton. This marks the fifth consecutive increase and the largest since July 2022, when oil prices surged due to the Russia-Ukraine war.
According to China’s pricing mechanism, oil prices are adjusted every 10 working days based on global crude oil market trends. However, Chinese authorities stated they have limited the price hike to roughly half of what it would have otherwise been to mitigate the impact on consumers.
Experts note that China depends on crude oil imports from six Middle Eastern countries, accounting for more than 40% of its total imports, making the nation sensitive to energy market fluctuations in the region.