Domestic oil prices rise at 24:00 on May 21st The 8th increase in oil prices in 2026

Recently, according to the National Development and Reform Commission, a new round of refined oil price adjustment window will open at 24:00 today (May 21). The details of this oil price adjustment are as follows: gasoline was raised by 75 yuan per ton, and diesel was raised by 70 yuan per ton. On a national average, the number 92 gasoline was raised by 0.06 yuan per litre; the number 95 gasoline was increased by 0.06 yuan per litre; and the number 0 diesel was increased by 0.06 yuan per litre. It is estimated that according to the 50L capacity of the general household automobile fuel tank, it will cost 3 yuan to fill up a tank of No. 92 gasoline. Entering 2026, the domestic refined oil retail price adjustment window has opened 10 rounds of price adjustment window, of which 8 rounds of upward adjustment window, 1 round of downward adjustment window, and 1 round of price adjustment window have been stranded. Cumulatively, there were 9 rounds of oil price changes. No. 92 gasoline rose by RMB 0.07/L, RMB 0.16/L, RMB 0.14/L, RMB 0.55/L, RMB 0.87/L, RMB 0.33/L, RMB 0.25/L and RMB 0.06/L respectively, with a decrease of RMB 0.44/L. During the price adjustment cycle, due to the continued obstruction of navigation in the Strait of Hormuz, the deepening of production cuts in the Middle East, and the accelerated de-stocking of global inventories, international oil prices rose more or fell less, and the average price of the current cycle was generally higher than that of the previous round. The US Energy Information Administration (EIA) forecast in May showed that the average daily production cuts of crude oil in the Gulf countries from March to May were 8.92 million barrels, 10.54 million barrels and 10.75 million barrels, respectively, and the global crude oil supply shortfall is expected to be about 2.6 million barrels per day in 2026. Global observable oil inventories fell by 250 million barrels cumulatively in March and April, equivalent to a record reduction of around 4 million barrels per day, according to the International Energy Agency (IEA). According to the analysis of the Price Monitoring Center of the National Development and Reform Commission, the international situation is the core factor affecting the current trend of international oil prices. The current situation has entered a volatile stage, and the volatility of international oil prices has intensified. Around May 22, it will be a key observation period for the international situation, and follow-up developments need to be closely followed.