The stated plan moves excise on refined products from the production stage to the wholesale and retail stage, with revenue gradually reassigned to local governments. For Shandong's independent refiners this flips “pay when you make” to “pay when you sell”: short-term relief on tied-up capital, but it also closes the invoice-arbitrage loophole some smaller plants used.

Statutory rates do not change — gasoline at 1.52 yuan/litre, diesel at 1.20 yuan/litre. What shifts is the payment point and the audit trail. Plants that booked sales with separated invoices lose that channel, so compliant landed cost becomes visible and under-compliant plants feel the cash squeeze first.

For SNSUC's re-export desk: crude imported under general trade, processed by a refiner and re-exported, now carries a visible excise line. The delivered-and-duty-paid cost model needs a recut. Refiners that issue full, compliant excise invoices give our re-export cargoes steadier bank credit and rebate paperwork, and that shifts sourcing leverage upward.

Operator read: when screening refiners, fold the gap between tax-inclusive and tax-exclusive ex-works prices straight into delivered cost. Prioritise plants with matched invoices and full excise slips; otherwise rebate and pledge finance snag at the documentation step.