Chinese authorities raise prices for gasoline and diesel fuel in the domestic market

Gasoline and diesel fuel prices differ in different regions of China, which is due to subsidies allocated by the authorities.

The Chinese authorities announced the ninth increase in retail prices for gasoline and diesel fuel in the country since the beginning of the year. This is stated in a message published on Monday on the website of the State Committee for Development and Reform of the People's Republic of China.
The cost of one ton of gasoline from May 31 will increase by 400 yuan (about $ 59), and diesel fuel - by 390 yuan (about $58). After an appropriate adjustment, one ton of gasoline will cost from 10,970 to 11,410 yuan (from $1,637 to $1,702), and the price of diesel fuel will be from 9,995 yuan to 10,335 yuan (from 1,491 to $1,542).
According to the current policy of state regulation of fuel prices in China, if a change in oil quotations on the world market leads to an increase or decrease in the cost of one ton of petroleum products on the domestic market by more than 50 yuan and this situation persists for 10 working days, then gasoline and diesel fuel prices are adjusted.
Gasoline and diesel fuel prices differ in different regions of China, which is due to subsidies allocated by the authorities. The highest prices are traditionally set in the city of Chengdu, and the lowest in the Xinjiang Uygur Autonomous Region.
Since the beginning of the year, the Chinese authorities have raised the prices of gasoline and diesel fuel in the domestic market a total of nine times and reduced them only once - on April 15.