China will raise the retail prices of gasoline and diesel to reflect recent changes in international crude oil prices, Xinhua reported, citing the National Development and Reform Commission—the country’s central economic planning body. Brent crude has gained some $10 per barrel since the start of the year and West Texas Intermediate is trading around $12 per barrel higher now than it did at the start of January. The price increase reflects tightening global supply and a better outlook for demand. As a result, prices for gasoline…
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