China Increases Diesel, Gasoline Prices to Help Oil Refiners

China, the world’s second biggest energy consumer, will increase fuel prices by as much as 11 percent today, allowing the nation’s refiners to pass on climbing crude oil costs. Prices for gasoline and diesel will rise by 600 yuan ($87.80) a metric ton, the National Development and Reform Commission said yesterday, the third increase this year. Jet fuel costs will rise by 620 yuan a ton. China’s consumer prices fell for a fourth month in May.....Complete Story