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CHINA> National
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.

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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.