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12.22.2010 14:33

China Raises Fuel Prices Amid Inflation Concerns

China's central economic planning agency said that the price hike is also aimed at controlling the rapid growth of crude oil consumption
By staff reporters Bao Youbin and Han Wei

(Beijing) – China decided to increase the price of gasoline by 310 yuan per ton and diesel by 300 yuan per ton beginning December 22, despite increasing public concerns on inflation.

The price raise, which was announced on late December 21 by the National Development and Reform Commission (NDRC), is the fourth such price adjustment this year, following the latest hike announced on October 26 to increase gasoline and diesel prices by 230 yuan per ton and 220 yuan per ton, respectively. The NDRC also raised jet fuel prices by about 5 percent.

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