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China raises oil prices for the 7th time in 2016


10-20-2016 00:25 BJT

From Thursday, China will raise oil prices for the seventh time this year, which will also be the biggest rise so far this year.

Gasoline prices will increase by 355 yuan per tonne, while diesel prices will be up by 340 yuan per tonne. That means car owners will spend more than before to fill their tanks.

For example, to fill a normal passenger car, which oil tank is about 50 litres, will cost 14 yuan more than before. Meanwhile, this round of oil prices hike is the highest this year. The second highest rise happened in late May, gasoline and diesel prices increased by 210 yuan and 200 yuan per tonne respectively.

Global oil prices has gradually risen despite OPEC's inability to reach an agreement on production halt.

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