Energy Insider: China Cuts Domestic Fuel Prices for First Time This Year

Published: Apr. 23, 2026 3:18 p.m. GMT+8

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China cuts domestic fuel prices for first time this year

China reduced domestic retail prices for gasoline and diesel by 555 yuan ($81) and 530 yuan per ton, respectively, starting Wednesday, marking the first price cut this year. The National Development and Reform Commission stated that despite a recent rebound, the average international crude oil price over the past 10 working days remained lower than the previous cycle.

U.S.-Iran conflict disrupts China’s oil imports

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China cuts gasoline/diesel prices by 555/530 yuan per ton, first reduction this year.
Gulf oil imports drop 25% in March amid U.S.-Iran conflict; total imports down 2% to 362M barrels.
CATL launches fast-charging batteries rivaling BYD; solar modules/lithium prices recover; power use rises 3.5% to 859.5 TWh.

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Who’s Who

Contemporary Amperex Technology Co. Ltd.: Contemporary Amperex Technology Co. Ltd. (CATL, 300750.SZ) launched ultra-fast charging batteries and a supercharging station network to rival BYD. New products include an upgraded LFP battery, higher-energy-density ternary battery, and sodium battery for low temperatures. Plans to upgrade battery-swapping stations with superchargers.

BYD Co. Ltd.: CATL launched ultra-fast charging batteries (upgraded LFP, ternary, sodium types) and supercharging stations to rival BYD Co. Ltd. (002594.SZ). (28 words)

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