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China will raise the retail prices of gasoline and diesel from
Saturday, based on the recent rise in international oil prices,
Trend reports
citing Xinhua.
Gasoline and diesel prices will go up by 210 yuan (about 31.17
U.S. dollars) per tonne and 200 yuan per tonne, respectively, the
National Development and Reform Commission said in a statement
Friday.
Under the current pricing mechanism, the prices of refined oil
products will be adjusted per global crude oil price changes.
China’s major oil companies as well as oil refineries have been
directed to maintain oil production and facilitate transportation
to ensure stable supplies.
Despite the recent hike, the commission predicts that the
international market will see a downward trend in the short term,
as demand for winter heating is gradually fading and European
countries have already stocked up on crude oil and refined oil
products in advance.
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