China will raise retail gasoline and diesel prices following gains in global oil prices but cap the increases to cushion the impact on the domestic market, the National Development and Reform Commission said, Reuters reports.
Retail prices for gasoline will rise by 395 yuan per metric ton ($58.85) and diesel by 385 yuan per ton, effective September 25. Under Chinas scheduled pricing mechanism, the increases should have been 830 yuan and 800 yuan, respectively, the NDRC said in a statement.
