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| Gas station in China |
China announces gasoline and diesel price hikes
China raised retail prices for gasoline and diesel starting Wednesday, based on recent changes in global oil prices, the National Development and Reform Commission (NDRC), the country's top economic planning body, announced Tuesday.
The commission said in a statement that gasoline and diesel prices rose by 65 yuan (about $9.04) and 60 yuan per ton, respectively.
China's three largest oil companies—China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation—along with other oil refiners, have been instructed to maintain production levels and facilitate transportation to ensure stable supplies, according to Xinhua.
The commission added that relevant departments across the country should intensify market supervision and inspections and implement strict measures to combat any activities that violate national price policies, thus contributing to market stability.
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