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China retail gas, diesel prices to rise 1pc

Friday, 21 June, 2013, 7:45pm

Reuters in Beijing

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China's new fuel pricing has a closer link to the cost of crude oil. Photo: Xinhua

China announced on Friday a small hike of a 100 yuan (HK$125.3) per tonne, or roughly 1 per cent, to its retail gasoline price ceiling and a 95 yuan increase to diesel, effective Saturday, largely offsetting a previous cut early this month.

China started a new fuel pricing system in March that has a closer link to the cost of crude oil.

 

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