Pursuits
China Raises Gasoline, Diesel Prices by 4% on Oil Gain
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China raised gasoline and diesel prices today by less than half of what crude oil has gained in the past month as the world’s fastest-growing major economy seeks to contain inflation.
The price of gasoline will rise by as much as 4 percent to 310 yuan ($47) a metric ton and diesel by 300 yuan a ton, the National Development and Reform Commission said in a statement on its website yesterday, the third increase this year in the world’s second-largest oil consumer. Crude in New York has gained 9 percent since China last increased prices on Oct. 26.