By :| Keywords : China, price, fuel
French.china.org.cn | Updated on 28-06-2020-
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China will raise retail prices for gasoline and diesel starting Monday, the National Development and Reform Commission (CNDR) said on Sunday.
Retail prices for gasoline and diesel will increase by 120 yuan ($ 17) and 110 yuan per ton, respectively, according to the CNDR.
This is the first increase in oil prices this year.
Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per ton and stay at this level for ten working days, the prices of refined petroleum products such as gasoline and diesel in China will be adjusted accordingly, but this adjustment will not take place if international prices are below the floor of $ 40 or above the ceiling of $ 130 per barrel.
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