BEIJING, March 9 — China will raise its retail prices of gasoline and diesel starting tomorrow, following a sharp rise in international oil prices, the country's top economic planner said today.
Xinhua reported the National Development and Reform Commission (NDRC) as saying that gasoline and diesel prices will increase by CN¥695 (RM400.07) and CN¥670 (RM385.67) per tonne, respectively.
The NDRC's price monitoring centre said that developments in the Middle East will be the key factor influencing global oil price trends in the period ahead.
China's three biggest oil companies: the China National Petroleum Corporation, the China Petrochemical Corporation, and the China National Offshore Oil Corporation, and other refineries have been directed to maintain production and facilitate transportation to ensure stable supplies.
Relevant departments across regions should intensify market supervision and inspection efforts. The NDRC added that they should implement strict measures to crack down on activities that violate national pricing policies to ensure market order.
