Gasoline, diesel prices rise

Increase brought on by moves by OPEC and 11 countries to cut crude output within six months

China saw its biggest gasoline and diesel price increase in the past four years late last night, driven up by the output cut by OPEC and other producers.

Gasoline and diesel prices were hiked by 435 yuan ($63) and 420 yuan per metric ton, respectively, according to an announcement by the National Development and Reform Commission on Wednesday. It was the 24th price adjustment for this year.