China to hike gasoline, diesel prices from 22 June

21 June 2013 10:22  [Source: ICIS news]

SINGAPORE (ICIS)--China will raise the prices of gasoline and diesel by yuan (CNY) 100/tonne ($16/tonne) and CNY95/tonne respectively from 22 June, the National Development and Reform Commission (NDRC) said on Friday.

The increase will bring up the country’s national average retail prices of 90-RON gasoline to CNY9,025/tonne and that of zero-pour-point diesel to CNY8,210/tonne, according to the NDRC. 

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

($1 = CNY6.13)

By: Fanny Zhang
+65 6780 4359

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