Taxes
In China, gasoline is subject to multiple taxes, which account for almost 50% of the final gasoline price. In March 2018, the consumption tax for gasoline was increased to USD 38 per barrel. The figure below shows the taxes applicable to gasoline sold in China, and their share in the total price.
Taxes and Surcharges Applicable to Gasoline in China
In June 2021, China’s General Administration of Customs imposed a new on several refined petroleum products blend components, including light cycle oil, mixed aromatics and diluted bitumen. The import tax for cycle light oil is set at CNY 1.52 (USD 0.22)/liter, and mixed aromatics and diluted bitumen are at CNY 1.20 (USD 0.18)/liter.