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China raises prices for gasoline and diesel fuel in the domestic market

1593439477224914068The Chinese authorities announced an increase in retail prices for gasoline and diesel fuel in the country.

This is stated in a message published on Friday 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 January 1 will increase by 140 yuan (about $22), diesel fuel - by 135 yuan (about $ 21). After an appropriate adjustment, a ton of gasoline will cost from 8,640 to 9,080 yuan (from $1,358 to $1,427), and the price of diesel fuel will be from 7,750 yuan to 8,090 yuan (from $1,218 to $1,272).

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, the lowest in the Xinjiang Uygur Autonomous Region.

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.