China to raise retail fuel prices from May 9

China will raise retail gasoline prices by 320 yuan (HK$368.2) per metric ton from May 9 as part of its regular price review. Retail diesel prices will increase by 310 yuan per metric ton, the country's state planner said on Friday.

The move comes as China resumes raising price caps after lowering them in April to mitigate the impact of rising oil prices caused by the Iran war and the effective closure of the Strait of Hormuz.

Reuters

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