Off the wire
• Banned sect members arrested in northern Tajikistan  • Weather forecast for world cities -- Feb. 9  • China Focus: Alibaba invests in Meizu to promotes own operating system  • Weather forecast for major Chinese cities, regions -- Feb. 9  • Wiretap recordings of Turkey's Erdogan seized in Istanbul Police Department  • Civilian wounded in India, Pakistan firing on Kashmir border  • Roundup: Philippine bourse rallies on positive U.S. job data  • China expects 1 mln more births in 2015  • Ronaldo birthday party after Atletico defeat causes major hangover for Real Madrid  • High-speed railway to link Chinese border city to Vladivostok  
You are here: 　 Home

1st LD-Writethru: China raises retail oil prices

Xinhua, February 9, 2015 Adjust font size:

China's top economic planner on Monday announced the retail price of gasoline would be raised by 290 yuan (47.3 U.S. dollars) per tonne and diesel by 280 yuan per tonne, snapping the trend of 13 consecutive cuts since July.

The adjustment that will come into effect on Tuesday means retail prices will edge up by 0.21 yuan per liter for gas and 0.24 yuan per liter for diesel, according to the National Development and Reform Commission.

In 2013, China adopted a pricing regime that adjusts domestic fuel prices when international crude prices change by more than 50 yuan per tonne for 10 working days.

According to data from the General Administration of Customs, China imported 308.4 million tonnes of crude oil in 2014 worth 228.3 billion dollars.

Some oil companies' decisions to cut capital spending and the recent robust job creation pace in the United States both contributed to higher oil prices, said Wang Yanting, an analyst with JYD Online Corp., a Beijing commodity e-commerce platform.

"The travel boom during the upcoming Spring Festival holiday in China will mean higher energy consumption, but the room for further increases in the short run is limited," Wang said. Endi