China raised prices for oil products for the fourth time since the beginning of the year

Almaty. May 26. Silkroadnews – China raised prices for oil products for the fourth time since the beginning of the year, the Chinese media writes.
“The National Development and Reform Commission (NDRC) of China announced, due to the recent price changes in the international oil market and pricing mechanism for petroleum products in China, starting May 25 prices for gasoline and diesel fuel in the country will rise by 140 and 135 yuan per tonne (about 0.1 yuan per liter) respectively”, the publication said.
The Commission requested China’s three major oil companies – PetroChina, Sinopec and CNOOC – to properly organize the production and transportation of petroleum products, guarantee stability of market supplies and strict observance of state price policy. Price regulation agencies at all levels should strengthen market control and supervision and resolutely detect and suppress cases of non-compliance with state price policy to ensure the order at the market.
The NDRC officials noted, at the moment they closely monitor the pricing mechanism trying to improve its work according to changes in the situation on the external and domestic oil markets.
Since the beginning of the year prices for gasoline and diesel fuel in China have been adjusted 10 times: 4 times prices decreased, 4 times increased and 2 times remained unchanged.