China's top economic planner National Development and Reform Commission (NDRC) Wednesday announced a mild hike of benchmark product oil prices effective from Thursday.
The prices of gasoline and diesel will go up by 90 yuan per tonne, respectively. Retail prices of 90# gasoline and 0# diesel would increase by 0.07 yuan per liter and 0.08 yuan per liter, respectively.
The increase of benchmark product oil prices is basically in line with market expectation. After the adjustment, ceiling retail gasoline and diesel prices in Beijing would be 7,370 yuan per tonne and 6,400 yuan per tonne, respectively.
The moving average of the basket of crude oil prices, to which China's product oil prices are pegged, gained 3.47 percent as of September 15 from the last cycle of fuel prices adjustment, according to Xinhua's calculations.
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