China will raise the retail prices of gasoline and diesel both by 70 yuan per tonne, starting from Thursday, said the National Development and Reform Commission (NDRC), the country’s top economic planner.
The marks the fifth rise of the prices so far this year.
Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per ton 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.