China says it will raise retail prices of gasoline and diesel on Thursday, following the recent rise in international oil prices.
Gasoline prices will increase to 240 Yuan (about 33.53 U.S. dollars) per tonne, and diesel prices 230 Yuan per tonne.
This is according to the National Development and Reform Commission in a statement on Wednesday.
Under the current pricing mechanism, the prices of refined oil products would be adjusted following changes in international crude oil prices.
China’s three biggest oil companies are China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation and oil refineries.
The companies have been directed to maintain oil production and facilitate transportation to ensure stable supplies, according to the commission. (Xinhua/NAN)