China to hike gasoline and diesel prices by $46.85/tonne

13 April 2010 14:33  [Source: ICIS news]

SHANGHAI (ICIS news)-- China will hike gasoline and diesel prices by yuan (CNY) 320/tonne ($46.85/tonne, €34.52/tonne) from 14 April in line with an increase in international crude values, China energy market intelligence service C1 Energy said late Tuesday.

The move was China’s first fuel price hike this year after a four-month hiatus under a new pricing mechanism adopted by the government in late 2008 to help curtail inflationary pressure and the impact of a severe drought in southwestern China, the source said.

China raised fuel prices last time in November, according to an earlier report.

However, China’s economic planning body China’s National Development and Reform Commission (NDRC) has not published the announcement on its website by the time of going to press.

($1 = CNY6.83, €1 = CNY9.27)

To discuss issues facing the chemical industry go to ICIS connect

By: Judith Wang
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly