Domestic oil prices will face the largest increase! Prices expected to rise more than 1.5 yuan per liter

(Source: Guiyang Evening News)

Latest oil price news as of March 21, 2026: International oil prices are rising. U.S. crude oil prices increased by 2.66% to $98.09 per barrel, Brent crude oil prices rose by 4.37% to $112.49 per barrel. In a new cycle of 10 working days, after 9 days of calculation, it is estimated that oil prices will increase by 2,000 yuan per ton, which translates to an increase of 1.52-1.81 yuan per liter.

Oil price news today: On March 22, the 9th working day of the new oil price calculation cycle, it is forecasted that gasoline and diesel prices will increase by 2,030 yuan per ton (the increase next Monday may further rise), equivalent to 1.62-1.77 yuan per liter.

• Predictions are for reference only; please refer to the final announcements from the National Development and Reform Commission and local gas stations.

At 24:00 on March 23, the domestic refined oil prices will undergo the sixth adjustment of the year. According to Zhuochuang Information, the increase on March 23 is estimated to be around 2,000 yuan per ton, marking the fifth increase this year and the largest increase so far. Gasoline 92, gasoline 95, and diesel 0 will each increase by 1.73 yuan, 1.83 yuan, and 1.87 yuan per liter, respectively.

With the implementation of the price adjustment, domestic 92-octane gasoline prices will fully enter the “9-yuan era.” Based on a typical 50-liter tank, filling up one tank of 92-octane gasoline will cost about 86.5 yuan more, and one tank of 95-octane gasoline will cost about 91.5 yuan more.

Previously, domestic refined oil prices have undergone five adjustments. Except for the first one which was suspended, the subsequent four adjustments were all increases. After this new round of price adjustments, domestic oil prices will see five consecutive increases, continuously raising fuel costs.

Liu Ting, a refined oil analyst at Longzhong Information, said that there is no longer any doubt about this round of price increases. From the supply side, the conflict between the U.S., Iran, and Israel shows no signs of easing. The Strait of Hormuz remains blocked, with only a few ships able to pass through. Oil-producing countries like Saudi Arabia have been forced to cut production, increasing supply risks and supporting oil prices. “The global demand remains weak, and some institutions worry that escalating geopolitical conflicts could drag down the economy and oil consumption. The Federal Reserve is also unlikely to cut interest rates in the short term, and some even support rate hikes,” Liu Ting explained. After this price adjustment, costs for households and logistics industries will see significant increases. Data from Zhuochuang Information shows that, based on private cars traveling 2,000 km per month with an average fuel consumption of 8 liters per 100 km, fuel costs per vehicle will increase by about 138 yuan before the next price adjustment window (24:00 on April 7, 2026). In the logistics industry, for heavy trucks traveling 10,000 km per month with an average fuel consumption of 38 liters per 100 km, fuel costs per vehicle will increase by approximately 3,553 yuan.