China raises gasoline, diesel prices by over $29 per ton

China’s fuel prices are set to rise, with the National Development and Reform Commission (NDRC) announcing an increase in retail gasoline and diesel prices effective Friday.

Gasoline and diesel prices will rise by 210 yuan ($29.47) and 200 yuan per ton. This adjustment is based on fluctuations in global crude oil prices under the country’s pricing system.

The NDRC has instructed China’s leading oil companies and refineries to prioritise maintaining oil production and improving transportation to ensure a steady fuel supply in response to increasing prices.

Attribution: Xinhua