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China to hike retail fuel prices
Updated: September 6, 2021 21:53 Xinhua

BEIJING — China will raise the retail prices of gasoline and diesel from Sept 7, the country's top economic planner said on Sept 6.

Based on recent changes in international oil prices, the retail prices of gasoline and diesel will be each increased by 140 yuan (about $21.7) per metric ton, 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 tonne and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China are adjusted accordingly.

In the current round of adjustment, global crude oil prices have risen. According to the NDRC price-monitoring center, international oil prices may continue to fluctuate in the short term.

China's three biggest oil companies — 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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