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China raises retail fuel prices

Xinhua, September 16, 2015 Adjust font size:

China will raise the retail price of gasoline and diesel from Thursday, ending six consecutive cuts since June, the National Development and Reform Commission (NDRC) announced Wednesday.

Retail price of gasoline and diesel will both rise by 90 yuan (14.1 U.S. dollars) per tonne, or 0.07 yuan per liter and 0.08 yuan per liter, respectively.

Under an oil pricing policy in place since the start of 2013, the NDRC can adjust the price every 10 working days based on changes in the global market, should the change be more than 50 yuan per tonne.

Although global oil prices have been under pressure from slowing demand in China, a robust appetite from the United States, weakening U.S. dollar, along with the recovering U.S. stock market have helped support prices. Endi