China raises retail fuel prices with caps
China will increase retail gasoline and diesel prices following global oil gains. The government capped the hikes to cushion the domestic market. The new pricing takes effect tomorrow.
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China will raise retail gasoline and diesel prices by 395 yuan and 385 yuan per metric ton on September 25. The move follows gains in Brent Crude Oil driven by the ongoing conflict involving the United States, Israel, and Iran. Regulators capped the increases at roughly half of the scheduled formula rate to cushion domestic consumer impact.
