China Increases Gasoline, Diesel Pump Prices as Crude Costs Rise
This article is for subscribers only.
China, the world’s second-biggest oil consumer, increased fuel prices for the first time since September after the cost of imported crude rose.
The maximum that gasoline can be sold to motorists will advance by 300 yuan ($48) a metric ton and diesel by 290 yuan a ton effective today, the National Development and Reform Commission said in a statement on its website yesterday. The pump price of 90-RON, China III gasoline in Beijing will rise 3.1 percent to 10,030 yuan a ton, or $4.60 a U.S. gallon, NDRC data show. The China III specification is similar to the Euro III fuel standard.