China’s sixth fuel price hike this year was moderated, signaling policy intent to contain inflation amid elevated oil prices linked to the Iran conflict. Regulators raised gasoline by 420 yuan per ton (about half the formula-implied 800 yuan) and diesel by 400 yuan, effectively shifting costs to state refiners and compressing margins. This suggests a preference for macro stability over corporate profitability. Authorities also retain policy optionality via fiscal and tax tools if crude approaches $130 per barrel. China’s diversified energy mix—coal, reserves, and renewables—limits vulnerability to Middle East supply shocks, reinforcing energy security while stabilizing domestic demand conditions.(金十数据)