At 24:00 on May 21, 2026, China officially opened the refined oil price adjustment window. The National Development and Reform Commission announced a new round of price hikes, with gasoline rising by 75 yuan per ton and diesel by 70 yuan per ton, marking the seventh domestic oil price increase this year. The adjustment is mainly driven by tight global crude oil supply and persistent geopolitical tensions in the Middle East, which have kept international oil prices at a relatively high level for a long time. Although the market faces periodic supply relief from expected OPEC+ production increases, long-term supply uncertainties continue to support high oil prices, prompting the domestic price adjustment in line with the pricing mechanism. Compared with previous large-scale adjustments, this round of price increase is moderate, with limited impact on residents’ daily travel costs, road logistics, and transportation industries. It will not bring obvious pressure on consumer inflation, effectively balancing energy market stability and people’s livelihood security. The National Development and Reform Commission emphasized that China will strictly implement the refined oil price formation mechanism, dynamically adjust domestic oil prices according to changes in international crude oil prices, and avoid excessive price fluctuations. Meanwhile, authorities will strengthen market supervision to crack down on arbitrary price hikes by gas stations and ensure stable energy supply for industrial production and people’s daily life. In the future, the domestic energy price adjustment will continue to be market-oriented, taking into account multiple factors such as international energy trends, domestic supply and demand, and economic operation stability, to provide solid support for the steady development of the national economy.