China to raise prices of gasoline, diesel

0 Comment(s)Print E-mail Xinhua, June 14, 2022
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China will raise the retail prices of gasoline and diesel from Wednesday based on recent changes in international oil prices, said the country's top economic planner Tuesday.

Gasoline and diesel prices will increase by 390 yuan (about 57.8 U.S. dollars) and 375 yuan per tonne, respectively, the National Development and Reform Commission said.

The move marks the 11th fuel price increase since the end of last year.

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

China's three leading oil companies -- China National Petroleum Corporation, China Petroleum & Chemical Corporation, and China National Offshore Oil Corporation -- have been asked to maintain oil production and facilitate transportation to ensure stable supplies. 

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