China is raising from Wednesday the retail prices of gasoline and diesel to reflect the recent increase in international crude oil prices
, the Xinhua news agency reported on Tuesday, citing the top economic planner of the world’s second-largest economy. Beginning on April 17, retail gasoline prices will be raised by $27.60 200 Chinese yuan per ton, and diesel prices will go up by $27 195 yuan per ton, according to a decision of China ’s National Development and Reform Commission NDRC.
As the key international benchmarks rose this year, China has already raised retail gasoline and diesel prices several times so far in 2024. The latest increase was made earlier this month, as Brent Crude rallied toward $90 per barrel. Earlier this year, China National Petroleum Corporation predicted that oil product demand in the country could peak by next year, driven by the progress of the energy transition.
Fuel Diesel Gasoline Fuel Exports Refining Energy
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