China may raise gasoline and diesel prices by 4 to 8 percent this week, to reflect international crude price hikes, said analysts.

This round of price hike is expected to be 300 yuan per ton, they said. Some expected the adjustment to be around 500 yuan per ton.

If that happens, this would be the sixth price adjustment this year. China has raised fuel prices three times and reduced them twice under a new pricing mechanism this year.