China to raise retail fuel prices from May 9
AI Summary
China's government announced an increase in retail fuel prices, with gasoline prices rising by 320 yuan per metric ton and diesel by 310 yuan. This action is part of a regular price review and comes in response to fluctuating oil prices amid geopolitical tensions.
HONG KONG: China will raise retail gasoline prices by 320 yuan ($47.05) per metric ton from May 9 as part of regular price review, with retail diesel prices increasing by 310 yuan per metric ton, the country's state planner said on Friday.The move comes as China goes back to raising the price caps after lowering them in April to mitigate rising oil prices from the Iran war and the effective closure of the Strait of Hormuz.($1 = 6.8014 Chinese yuan renminbi)