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International oil prices rise by more than 10% by end of Q1 2025?
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China to Raise Retail Gasoline and Diesel Prices by 70 Yuan (9.74 U.S. Dollars) per Ton Starting January 3, 2025
Jan 2, 2025, 09:32 AM
China's National Development and Reform Commission (NDRC) announced that retail prices for gasoline and diesel will increase by 70 yuan per ton, effective January 3, 2025. The increase follows recent trends in international oil prices and is part of the country's current pricing mechanism for refined oil products. The decision comes amid rising optimism for higher fuel demand in China, spurred by President Xi Jinping's commitment to rejuvenate the nation's economic growth. The price hike translates to approximately 9.74 U.S. dollars per ton.
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