Retail fuel prices set to rise again

Retail gasoline prices are set to go up from Saturday in line with China's fuel price adjustment mechanism, despite the steep fall in global crude prices.

The National Development and Reform Commission, the nation's top economic planner, said on Friday that retail prices of gasoline would be hiked by 120 yuan ($19.39) a metric ton, or 0.09 yuan a liter from Saturday, while diesel prices would go up by 115 yuan a ton, or 0.1 yuan a liter.

After the retail price rise, the benchmark price of 90-octane grade gasoline will be 5.82 yuan a liter.