Gasoline, diesel prices hiked

Retail prices of gasoline and diesel have been hiked by 165 yuan per metric ton ($26.80) and 160 yuan per ton from Tuesday, the nation's top economic planner said.

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The adjustment will see the benchmark retail prices of gasoline increase by 0.12 yuan per liter and that of diesel by 0.14 yuan per liter, the National Development and Reform Commission said on Monday.

Under China's new pricing regime, which came into effect last year, domestic fuel prices are adjusted when international crude prices reflect a change of more than 50 yuan per ton for gasoline and diesel over a period of 10 working days.

The NDRC asked major oil refiners to coordinate production and distribution to ensure steady supplies and strictly carry out China's pricing policies.