China hikes oil prices
27 June 2005
Beijing raised the retail prices for petrol and diesel oil nationwide Saturday as crude oil prices reached US$60 a barrel on international markets Friday, state media reported, quoting government agencies. The wholesale prices for petrol and diesel oil were raised Saturday by 200 yuan (US$24.20) and 150 yuan a ton respectively to 4,100 yuan and 3,620 yuan, and retail prices were increased accordingly, said a Sinopec official. Retail oil prices had been cut by 0.1-0.15 yuan per liter a month ago following a 0.25-yuan hike March 24.
