China’s National Development and Reform Commission has raised retail price ceilings for gasoline and diesel by 600 yuan, or 95 dollars per tonne on Monday.

This represents an increase of about six percent in retail fuel prices. After the adjustment, Beijing’s refined oil price exceeded eight yuan, or 1.3 dollars a litre in average.

The NDRC last changed gasoline and diesel prices on February 8th - raising them by 300 yuan per tonne in response to rising international oil prices.

Under China’s oil product pricing system, domestic fuel prices may be adjusted when the moving average of a basket of international crude changes more than 4 percent over a period of 22 working days.


National Development and Reform Commission:国家发改委
retail price:零售价
oil product:成品油
pricing system:价格体系