China curbs fuel price hike, limits increase to about half of expected

China intervened to cushion rising fuel prices, raising regulated ceiling prices for retail gasoline and diesel by about half of the expected increase.

The state planner, the National Development and Reform Commission, said on Monday it would raise the maximum retail prices for gasoline and diesel by 1,160 yuan (HK$1,315) per metric ton and 1,115 yuan per metric ton, respectively, starting from Monday midnight.

Under the current pricing mechanism, gasoline and diesel prices were set to rise by 2,205 yuan per metric ton, and 2,120 yuan per metric ton, respectively.

Reuters