Overview
- State oil firms including Sinopec and CNPC have asked for permission to ship gasoline and diesel next month, according to people familiar with the requests.
- Beijing has not announced any permit changes, and the National Development and Reform Commission and the Commerce Ministry did not respond to requests for comment.
- Refinery stocks of gasoline and diesel are the highest since 2025 and 2024, as higher pump prices and growing electric-vehicle use have curbed domestic demand, consultancy data show.
- Export profits have climbed and diesel supplies in Asia are tight, so a green light from China could ease regional price pressure.
- In early March, China halted new fuel export contracts and moved to cancel cargoes not yet cleared by customs, which left nearby importers such as the Philippines and Vietnam facing scarcer and costlier supplies.