China Curbs Fuel Price Increases Again as Oil Costs Surge
China has limited retail fuel price increases for the third time since the Iran war began, seeking to shield consumers and businesses from a renewed surge in international oil prices.
伊朗战争爆发以来，中国第三次限制成品油零售价格涨幅，以减轻国际油价再度大涨对消费者和企业的冲击。
Gasoline and diesel retail price caps will rise by 260 yuan and 250 yuan per tonne, respectively, from Saturday, the National Development and Reform Commission said Friday. Under the usual pricing mechanism, the increases would have been 435 yuan and 420 yuan.
9月11日，国家发展改革委表示，自本周六起，汽油和柴油最高零售价格每吨将分别上调260元和250元。按照现行调价机制计算，两者本应分别上调435元和420元。
The intervention reduces the scheduled increases by about 40%. Even so, gasoline and diesel prices after the adjustment will stand 19% and 21% above their respective levels at the last adjustment before the war began.
此次调控使涨价幅度较机制测算值减少约40%。不过，调整后的汽油和柴油零售价仍将较伊朗战争爆发前最后一次调价时的水平高出19%和21%。
The state planner attributed the latest rise in international crude prices to renewed escalation in the US-Iran conflict since the previous domestic adjustment on August 28. It also instructed oil producers and refiners to maintain stable fuel supplies and comply with national pricing policies.
国家发改委表示，自上次（8月28日）调价以来，美伊冲突再度升级，推动国际原油价格大幅上涨。该部门要求石油生产和炼化企业保障成品油稳定供应，严格执行国家价格政策。
China reviews retail fuel price caps every 10 working days based on international crude prices, with provisions allowing temporary intervention during exceptional volatility. Authorities previously curbed increases on March 23 and April 7, roughly halving the rises indicated by the pricing formula.
中国每10个工作日根据国际原油价格变化调整成品油最高零售价格，相关规定允许在油价异常波动时采取临时调控措施。监管部门已在3月23日和4月7日限制涨价幅度，将按机制测算的涨幅压低约一半。
Protecting domestic consumers has also carried costs for refiners. Earlier fuel price controls and export restrictions weighed on refining returns, with Sinopec recording a 1.8 billion yuan refining loss in the second quarter.
保护国内消费者也让炼油企业承担了一定成本。此前的成品油价格调控和出口限制令炼油业务收益承压，中国石化第二季度炼油业务亏损18亿元。
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