China raises gasoline, diesel prices
BEIJING – China said it would raise benchmark retail prices of gasoline and diesel by 290 yuan (42.46 U.S. dollars) per ton and 180 yuan per ton, respectively, as of midnight Tuesday.
It is the second oil price adjustment this year. The National Development and Reform Commission, China’s top economic planner, cut benchmark pump prices of gasoline and diesel by 140 yuan and 160 yuan per tonne, or 2 percent and 3.2 percent, respectively, on January 14.
Experts said more frequent price adjustments show China can respond quicker to international oil price changes after a new pricing mechanism took effect January 1, 2009.
http://www.chinadaily.com.cn/china/2009-03/24/content_7611905.htm
Last 5 posts by MacroMan
- Thiel: Still heading toward deflationary endgame - August 4th, 2010
- Around the markets in 6 charts or less - May 6th, 2010
- Quotable - May 5th, 2010
- Quoteable - April 29th, 2010
- Pimco Warns of Deflation Risk as Central Banks to Cool Stimulus - April 21st, 2010
Commodities/Futures, Currency, Politics | MacroMan | 
March 24, 2009 12:23 pm
No Comments
No comments yet.
RSS feed for comments on this post. TrackBack URI
Leave a comment
You must be logged in to post a comment.