Mainland hikes fuel prices for second month as oil-giants' shares take a fall
September 12, 2012, 12:04 pm TWN
SHANGHAI -- China on Tuesday hiked government-set fuel prices for the second month in a row with shares in listed oil giants falling despite expectations the move would narrow their losses.
State planner the National Development and Reform Commission said late Monday it would raise retail prices for gasoline and diesel.
The benchmark price for petrol rose 6.6 percent to 8,840 yuan (US$1,403) per ton and diesel rose 7.2 percent to 8,020 yuan per ton, according to a statement.