皇冠体育app

Government and Policy

皇冠体育app to raise retail prices of gasoline, diesel

(Xinhua)
Updated: 2010-10-25 21:22
Large Medium Small

BEIJING - 皇冠体育app's top economic planner, the National Development and Reform Commission (NDRC), said Monday that it was to raise the per-tonne retail prices of gasoline by 230 yuan ($34.5) and that of diesel by 220 yuan from Tuesday.

Related readings:
皇冠体育app to raise retail prices of gasoline, diesel Fuel pricing mechanism could be reformed
皇冠体育app to raise retail prices of gasoline, diesel Natural gas prices go up by 25 percent
皇冠体育app to raise retail prices of gasoline, diesel 皇冠体育app raises gas prices 25%, cuts gasoline rates
皇冠体育app to raise retail prices of gasoline, diesel 皇冠体育app cuts gasoline, diesel prices

This was the first fuel price increase in six months after the NDRC raised both gasoline and diesel prices by 320 yuan per tonne on April 14 of this year.

After the adjustments, the benchmark gasoline price would hit 7,420 yuan per tonne while that for diesel would be 6,680 yuan per tonne.

The Chinese government adopted an oil pricing mechanism at the start of 2009 that allows the NDRC to adjust retail fuel prices when the international crude oil price changes by more than 4 percent over 22 straight work days.

The NDRC also said Monday that a new and more transparent pricing mechanism for refined oil products could be announced this year.