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China raises retail gasoline, diesel prices

China will raise the retail prices of gasoline by 200 yuan ($29.02) per metric ton and diesel fuel by 190 yuan per ton from Thursday, the National Development and Reform Commission said in a statement on its website on Wednesday. The adjustments are the third increase this year and reflect rising crude oil prices amid signs of production cuts by the Organization of the Petroleum Exporting Countries and other producers were starting to have some effect on tightening supply.