China raised its retail transportation fuel prices for the domestic market, the state planner said in a statement on Thursday, though it limited the increases to mitigate the impact of rising oil prices because of the Iran war, Reuters reports.
Retail prices for gasoline will rise by 345 yuan ($51.76) per metric ton and diesel by 335 yuan per metric ton, effective October 30, the National Development and Reform Commission said.
Under China’s scheduled pricing mechanism, gasoline should have increased by 440 yuan and diesel by 420 yuan, the statement said.
