China raises petrol, diesel prices

20 Feb, 2011

The "limited" rise would see the benchmark retail price of petrol increase by 0.26 yuan per litre and diesel by 0.3 yuan per litre, the National Development Reform Commission said in a statement on its website.In Beijing 93 octane petrol costs 7.45 yuan ($1.13) per litre.

China last increased petrol prices on December 22, the third time fuel prices rose in 2010 following hikes in October and April.Inflation has become Beijing's top economic concern as it struggles to keep a lid on rising costs of food and other key items to head off public unrest.Consumer prices rose at a stubbornly high 4.9 per cent in the year to January, the government announced last week.

The fuel price hike generated angry postings in China's Internet chatrooms, with many blaming the government for the increase.

"The reform commission should be reformed because these price

Copyright AFP (Agence France-Presse), 2011 

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