China to raise retail fuel prices

29 April, 2021 12:00 AM printer

BEIJING: China will raise the retail prices of gasoline and diesel from Thursday, the country's top economic planner said Wednesday.

Based on recent changes in international oil prices, the retail prices of gasoline and diesel will be increased by 100 yuan (about 15.42 U.S. dollars) and 95 yuan per tonne, respectively, according to the National Development and Reform Commission.

Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per tonne and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly, reports Xinhua.