China is increasing the retail prices of gasoline and diesel due to recent changes in international crude oil prices, Al Jazeera reports, citing the country’s official Xinhua news agency.
The price increase was announced by the National Development and Reform Commission (NDRC), the country’s top economic planner.
Under the adjustment, gasoline and diesel prices will increase by 260 yuan (about $38.76) and 250 yuan ($37.27) per tonne, respectively.
After the increase, diesel consumers will be paying 7.96 yuan or $1.19 per litre (0.26 gallons), whereas gasoline consumers will pay between 8.25 yuan and 8.68 yuan or between $1.23 and $1.29 per litre.
The NDRC says the increase is due to escalating tensions between the US and Iran since China’s previous adjustment of refined oil prices on August 28, according to Xinhua.
