China's National Development and Reform Commission(NDRC)said on Monday it would adopt temporary regulatory measures on domestic refined oil prices.

Under the current pricing mechanism,gasoline and diesel prices(standard products,same below)would have been raised by 2,205 yuan($305)and 2,120 yuan per ton respectively as of Monday,but would actually be increased by 1,160 yuan and 1,115 yuan after the adjustment(starting Tuesday),according to NDRC,China's top economic planner.

In recent years,refined oil prices have been adjusted in line with the current pricing mechanism.This marks the first regulatory intervention since the mechanism was introduced in 2013,according to Xinhua News Agency's Monday report.

Experts said the move represents a timely and robust response to the sharp rise in global oil prices,and will play a key role in ensuring stable domestic economic operations,according to Xinhua.

Since the previous adjustment of domestic refined oil prices on March 9,international crude oil prices have surged sharply,driven by escalating tensions among the US,Israel and Iran,with Middle Eastern nations'crude benchmarks hitting repeated record highs.

To cushion the impact of the abnormal spike in global oil prices,ease the burden on downstream users,and ensure stable economic operations and public welfare,NDRC has introduced temporary regulatory measures on domestic refined oil prices within the existing pricing mechanism framework,according to NDRC.

The NDRC vowed to guide refiners and distributors to step up production,logistics and supply arrangements to ensure market availability,while working with relevant authorities to strengthen market supervision and inspections.Violations such as non-compliance with state pricing policies will be strictly penalized to safeguard market order and protect consumer interests,according to NDRC.