In February 27, 2015, the national development and Reform Commission issued a notice that decided to increase the price of gasoline and diesel by 390 yuan and 375 yuan per ton respectively, and estimated that the retail price 90 gasoline and No. 0 diesel (the national average) increased by 0.29 yuan and 0.32 yuan per liter, and the time of the price adjustment was 24 in February 27th. The price adjustment of the finished oil is determined according to the current price formation mechanism of finished oil, according to the average price of crude oil in the international market in the first 10 working days of February 27th. Since mid February, oil price shocks have increased in the international market, due to the expected increase in global oil demand. The average price of the first 10 working days has increased. The notice requires that the three major companies of PetroChina, Sinopec and CNOOC should organize the production and transport of refined oil, ensure the stable supply of the market and strictly implement the national price policy. Price authorities at all levels should intensify market supervision and inspection, strictly investigate and punish the behavior of not implementing the national price policy, and maintain normal market order. (source: National Development and Reform Commission)
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