China has raised retail fuel prices for the first time this year, with gasoline to go up at the pump by 205 yuan (US$33.60) per metric ton and diesel by 200 yuan from Thursday, Xinhua reported, citing the National Development and Reform Commission. The increase was in line with market expectations, given rises in crude oil prices. The country’s top economic planner introduced a new domestic fuel pricing scheme in March to enable prices to more closely track global oil prices. When adjusting fuel rates, regulators take into account changes in average global market prices during the previous 10 working days.
– Contact HKEJ at [email protected]