June 19, 2008

China to Raise Prices of Refined Oil, Electricity

Text of report in English by official Chinese news agency Xinhua (New China News Agency)

[Xinhua "Urgent": "China To Raise Prices of Refined Oil, Electricity"]

BEIJING, June 19 (Xinhua) - China will raise the prices of gasoline, diesel oil, aviation kerosene and electricity, while maintaining the prices of natural gas and liquefied petroleum gas, China's top economic planner announced Thursday night [19 June].

Beginning 20 June, gasoline and diesel oil prices will be marked up by 1,000 yuan (144.9 US dollars) per tonne, with the price of aviation kerosene up by 1,500 yuan per tonne, according to the National Development and Reform Commission.

The average electricity tariff will be raised by 2.5 cents per kwh starting from 1 July, but urban and rural residents and sectors of farming and fertilizer production will be exempted from the price hike, it said.

Originally published by Xinhua news agency, Beijing, in English 1415 19 Jun 08.

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