China raises gasoline and diesel prices, in tandem with international oil market

minutes 2021/04/30 02:02:53

Apr 30, 2021 (China Knowledge) - China National Development and Reform Commission said on Wednesday that the country will raise the retail prices of gasoline and diesel starting Thursday.

The commission said that based on recent changes in international oil prices, the retail prices of gasoline and diesel will be increased by RMB 100 and RMB 95 per tonne, respectively.

Under the current pricing mechanism, the prices of refined oil products in China will be adjusted if the international crude oil prices change by more than RMB 50 per tonne and remains at that level for 10 working days.

China's three biggest oil companies, namely China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation, have been asked to maintain oil production and facilitate transportation to ensure stable supplies.

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