Diesel, gasoline prices in China to hit record high due to Russia-Ukraine war
China’s retail diesel and gasoline prices are set to soar to historically high levels, following a surge in global crude oil benchmarks amid the Russia-Ukraine conflict.
Prices of retail diesel and gasoline will both be increased by 110 yuan ($17.34) a tonne effective from Friday, the National Development and Reform Commission said in a statement on Thursday.
Local Chinese authorities will make the adjustment of their respective ceiling prices for the fuel. Beijing, for instance, will see its diesel prices touching 9,805 yuan a tonne, the highest level ever, while gasoline prices will hit 10,880 yuan a tonne, breaking a previous record set two-weeks ago.
