In response to the recent rumor about Beijing's potential oil price hike on March 1, officials from the National Development and Reform Commission (NDRC) clarified during an interview with reporters that the Beijing municipal government does not have the authority to adjust refined oil prices. Only the NDRC holds the official power to set fuel prices, and any changes must be formally announced by the Price Division of the commission.
"As of now, the NDRC has not released any information regarding a price increase," one official said. "All consumers should rely solely on the pricing announcements made by the Price Division of the Development and Reform Commission."
**Beijing Gas Stations Now Supply National IV Fuel**
Starting March 1, Beijing will complete the transition from National III to National IV fuel, ensuring that all gas stations supply only National IV grade. This change has led to growing concerns among drivers and taxi operators, as rumors of an impending price hike have spread across the city.
On February 29, reporters observed long lines at multiple gas stations, as drivers rushed to refuel before the expected price increase. At 10:20 PM, the reporter contacted the Beijing Municipal Development and Reform Commission. A staff member confirmed that no price increase for National IV fuel is currently planned.
"The pricing authority for National IV fuel does not rest with the Beijing Municipal Development and Reform Commission," the staff explained. "We have not received any official notification from the NDRC about a price adjustment for National IV fuel at this time." When asked about whether the production cost of National IV fuel is higher, the person did not provide further details.
**Major Oil Companies Confirm No Price Adjustment**
Officials from the NDRC also confirmed that neither of China’s two major oil companies—PetroChina and Sinopec—has received approval for any price adjustments. “The recent focus on electricity and oil prices remains unchanged,†one official stated. “Even if there are increases, they must be officially announced by the NDRC.â€
The NDRC also encouraged citizens to report any unauthorized price hikes in the market. “If you notice any illegal price increases, please contact the Price Division of the Development and Reform Commission,†the official added.
According to reports from PetroChina and Sinopec on the evening of February 29, both companies have not yet received any instructions or approvals from the NDRC regarding a price adjustment. As of now, the situation remains stable, and all stakeholders are awaiting official confirmation from the central authority.
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