BEIJING — China will raise the retail prices of gasoline and diesel starting Tuesday, the country's top economic planner said on Jan 17.

The price of gasoline will go up by 345 yuan (about $54.25) per metric ton, while that of diesel will increase by 330 yuan, 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 10 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 China National Petroleum Corporation, China Petroleum & Chemical Corporation, and China National Offshore Oil Corporation, have been asked to maintain oil production and facilitate transportation to ensure stable supplies.