China limits gasoline and diesel price hikes to curb inflation amid global oil volatility.

China has imposed temporary limits on gasoline and diesel price increases, effective March 23, 2026, capping rises at 1,160 yuan and 1,115 yuan per tonne respectively—about half the amount under normal pricing. The move, announced by the National Development and Reform Commission, aims to mitigate economic pressure from soaring global oil prices driven by Middle East tensions, particularly around the Strait of Hormuz. The controls are intended to stabilize downstream industries, support economic operations, and protect public welfare amid volatile energy markets.