Summary of Key Points
At 24:00 on July 17th, domestic refined oil prices were raised for the ninth time in 2026: gasoline and diesel increased by 300 yuan and 290 yuan per ton respectively, which corresponds to a price increase of 0.22-0.25 yuan per liter. The reason for the price hike is the fluctuating international crude oil prices due to the ongoing conflict between the United States and Iran. Private car owners will spend approximately 11.5 yuan more to fill up their tanks, while logistics vehicles face a significant increase in costs. The industry expects that the next round of price adjustments is also likely to result in further increases.
I. How much did the oil prices rise this time?
The increase in prices for different types of fuel is clear as follows:
- 89-octane gasoline increased by 0.22 yuan per liter, 92-octane by 0.23 yuan per liter, 95-octane by 0.24 yuan per liter, and diesel by 0.25 yuan per liter.
- In most regions of the country, the retail price for 92-octane gasoline ranges from 7.2 to 7.3 yuan per liter, and diesel from 7.2 to 7.4 yuan per liter.
- For example, a typical private car with a 50-liter fuel tank will spend an extra 11.5 yuan to fill up with 92-octane gasoline (50 liters × 0.23 yuan/liter). For vehicles that consume 7-8 liters of fuel per 100 kilometers in urban areas, the additional cost per 100 kilometers is about 1.7 yuan.
II. Why did the oil prices suddenly rise?
The root cause of this price increase is the volatility in international crude oil prices:
- Ten days before the adjustment, international oil prices first fell and then rose: initially, there were signs of peace talks between the US and Iran, and the Strait of Hormuz was opened, leading to increased oil supply and lower prices; however, when the US announced the end of the ceasefire agreement, Iran closed the strait again (which accounts for one-fifth of the world's oil traffic), potentially causing a disruption in supply and a sharp rise in prices.
- The average price of oil over these ten days was higher than it was before the last adjustment, which is why domestic oil prices also increased accordingly.
III. Will the price increase affect our lives?
The impact is mainly in two areas:
1. Private car owners: The daily cost of fueling has increased; for example, driving 1000 kilometers per month will result in an additional expense of about 17 yuan (1000 kilometers ÷ 100 × 1.7 yuan).
2. Logistics and prices: A fully loaded 50-ton truck will spend an extra 10 yuan per 100 kilometers, which could lead to a slight increase in delivery fees and the prices of vegetables and daily necessities, as many goods rely on truck transportation.
IV. Will oil prices rise further?
Industry analysts predict that there is a high likelihood of further price increases, for the following simple reasons:
- The conflict between the US and Iran has not ceased, and the Strait of Hormuz remains closed, posing a risk to oil supply.
- If the situation escalates, oil supply could become even more strained, leading to continued increases in prices.
Conclusion
The increase in oil prices this time is not particularly significant, but the underlying international situation (the US-Iran conflict) is the key factor. For individual car owners, the additional expense of a few dozen yuan per month may not be a major issue. However, the rise in logistics costs could indirectly lead to higher prices for everyday goods. It would be wise to consider filling up your fuel tank in advance if you want to save money.