CHENGDU, Dec. 1 (NBD) -- China on Thursday raised retail prices of gasoline and diesel, the eighth time to do so, due to rising international crude oil prices. 

According to the National Development and Reform Commission website, gasoline prices will be lifted by 175 yuan (about 25.38 US dollars) per ton and diesel prices by 170 yuan (about 24.65 US dollars) per ton. 

Under the current pricing system, if global crude price changes lead to price increases or declines of more than 50 yuan (about 7.25 US dollars) per ton for domestic refined oil products, and remain so for 10 working days, gasoline and diesel prices are adjusted accordingly. 

This year the commission has aslo cut retail fuel prices five times. 

Oil prices also surged on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) clinched a deal to cut production. 

Effective from Jan. 1 next year, OPEC will lower its output by 1.2 million barrels per day, or about 4.5 percent of current production, to 3.5 million barrels per day, just as what their preliminary agreement said in September.