Written by: Fatima Younis
The National Development and Reform Commission in China has announced the stabilization of retail prices for gasoline and diesel during its regular periodic review, amidst the recent fluctuations witnessed by oil prices in global markets.
Periodic Review Mechanism
The Commission conducts reviews and adjustments to domestic retail price ceilings for gasoline and diesel every ten working days, based on global crude oil price movements.
Latest Price Adjustment
In its last adjustment, China had raised retail gasoline prices by 395 yuan per metric ton, equivalent to approximately $59.03, and diesel by 385 yuan per ton, effective as of last September 25.
