China has raised the prices of gasoline and diesel by 350 yuan per tonne. The adjustment is the first this year and comes into effect on Sunday.
The increase would lift the benchmark retail price of gasoline by 0.26 yuan per liter and diesel by 0.3 yuan per liter. The country's top economic planning body said the increase was due to the rising price of international crude oil.
The Chinese government adopted an oil pricing mechanism at the start of 2009 that allowed the National Development and Reform Commission to adjust retail fuel prices when the international crude oil prices change by more than 4 percent over 22 straight working days.