China to raise gasoline, diesel prices by CNY95/tonne from 10 May

09 May 2013 10:15  [Source: ICIS news]

SINGAPORE (ICIS)--China will hike gasoline and diesel prices by yuan (CNY) 95/tonne ($15/tonne) from 10 May in response to firmer crude values in international markets, the National Development and Reform Commission (NDRC) announced on Thursday.

The raise will boost the country’s average retail price of 90-RON gasoline to CNY9,020/tonne and that of zero-pour-point diesel to CNY8,205/tonne, according to the NDRC.

Under the existing scheme, gasoline and diesel prices are adjusted every 10 working days based on prices of a basket of international crude. But fuel prices will not be adjusted if the changes are less than CNY50/tonne.

($1 = CNY6.14)

By: Fanny Zhang
+65 6780 4359

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