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China raises retail fuel prices by 4%

(Xinhua)
Updated: 2009-09-01 21:26

BEIJING: China announced Tuesday that it will raise the benchmark retailing prices of gasoline and diesel by about 4 percent as of Sept 2.

Related readings:  Beijing shuns fuel hike ahead of holiday  Concern over fuel price freeze sends petro stocks lower  Major Chinese airlines to raise freight fuel price  Fuel price cut in the offing

China's National Development and Reform Commission, the country's top economic planning agency, said the benchmark retailing prices of petrol and diesel will rise by 300 yuan (US$44.12) per tonne, or about 0.22 yuan per liter or 0.26 yuan per liter, respectively.

It is the seventh fuel price adjustment since the country adopted a new fuel pricing mechanism, which took effect on January 1.