BUSINESS China to raise gasoline, diesel retail prices


China to raise gasoline, diesel retail prices

By Xinhua | Xinhua

20:09, November 19, 2020

File photo

China will raise the retail prices of gasoline and diesel starting Friday, the country's top economic planner said Thursday.

The price of gasoline will go up by 150 yuan (US$22.9) per ton, while that of diesel will increase by 145 yuan, 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 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.

China's three biggest oil companies, namely China National Petroleum Corporation, China Petrochemical 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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