BEIJING, Oct 31: China will raise the prices of gasoline, diesel and aviation fuel by 500 yuan ($67) per ton, China’s economic planner announced on Wednesday, according to state media.

The adjustment, which comes into effect November 1, was made to narrow the gap between soaring international crude and domestic oil prices, the official Xinhua news agency said.

Price controls in China often result in oil being cheaper domestically than internationally, a situation that is especially exacerbated with large upward swings on the global market.—AFP