Under the current pricing mechanism, the prices of refined oil products would be adjusted following changes in international crude oil prices.
China says it will raise retail gasoline and diesel prices on Thursday, following the recent rise in international oil prices.
Gasoline prices will increase to ¥240 (about $33.53) per tonne, and diesel prices ¥230, according to the National Development and Reform Commission in a statement on Wednesday.
Under the current pricing mechanism, the prices of refined oil products would be adjusted following changes in international crude oil prices.
China’s three biggest oil companies are China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation and oil refineries.
According to the commission, the companies have been directed to maintain oil production and facilitate transportation to ensure stable supplies.
