CHENGDU, Feb.14 (NBD) -- China will raise the retail prices of gasoline and diesel starting at 0:00 o'clock of Wednesday, the first rise after the Spring Festival, the National Development and Reform Commission (NDRC) announced.

The retail prices of gasoline and diesel will both rise by 50 yuan (about 7.27 US dollars) per ton.

Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan (7.27 US dollars) per ton and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly.

Email: tanyuhan@nbd.com.cn