BEIJING — China will raise the retail prices of gasoline and diesel from Dec 4, the country's top economic planner said on Dec 3.

Based on recent changes in international oil prices, the retail prices of gasoline and diesel will increase by 250 yuan (about $38.11) and 240 yuan per ton, respectively, according to the National Development and Reform Commission.

Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per ton and remain at that level for ten working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly.

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