China raises retail fuel prices - Xinhua

BEIJING, Nov. 4 (Xinhua) -- China will raise the retail prices of gasoline and diesel from Tuesday, the country's top economic planner said Monday.

Based on recent changes in international oil prices, the retail prices of gasoline and diesel will both be lifted by 105 yuan (about 14.9 U.S. dollars), according to the National Development and Reform Commission.

Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per tonne and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly.

China's three biggest oil companies, namely China National Petroleum Corporation, China Petrochemical Corpo....