China Raises Diesel And Gasoline Prices By US$94.90

By Ng Che Yean BEIJING, March 20 (Bernama) -- China has raised diesel and gasoline prices by 600 yuan (US$94.90) per metric tonne effective Tuesday, the National Development and Reform Commission announced Tuesday. The diesel price rose to 9,130 yuan (US$1,445.20) per metric tonne while the average gasoline price increased to 9,980 yuan (US$1,579.70) per metric tonne. The commission said the raise are set in reference to the price of Brent crude oil (a major trading classification of sweet light crude oil), Dubai and Cinta crude oil, which rose more than 10 per cent over the past 22 working days. The price hikes took effect before the spring peak use period to discourage overconsumption of petroleum products, promote energy conservation and thus guarantee supply, it said. China, the world's second biggest oil user, raised fuel prices for the first time this year by 300 yuan per metric tonne on Feb 8. -- BERNAMA