09 August 2012 15:13 [Source: ICIS news]
SINGAPORE (ICIS)--China will raise gasoline and diesel prices by yuan (CNY) 390/tonne ($61/tonne) and CNY370/tonne respectively, from 10 August, the National Development & Reform Commission (NDRC) said on Thursday.
Under the existing pricing mechanism, fuel prices would be adjusted when the 22-day moving average of Brent, Cinta and Dubai crude change by 4% or more.
($1 = CNY6.36)
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