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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World China raises petrol, diesel prices AFP - 2 hours 20 minutes ago Send IM Story Print BEIJING (AFP) - – China raised wholesale petrol and diesel prices by 350 yuan ($53) per tonne Sunday, the second rise in two months in the world's second-largest fuel consuming nation, the government announced. The hike, which marked about a 4.6 percent rise, came as the price of crude oil closed last week above $100 per barrel in London, China's economic planning agency said when announcing the increase Saturday. The "limited" rise would see the benchmark retail price of petrol increase by 0.26 yuan per litre and diesel by 0.3 yuan per litre, the National Development Reform Commission said in a statement on its website. In Beijing 93-octane petrol costs 7.45 yuan ($1.13) per litre. China last increased petrol prices on December 22, the third time fuel prices rose in 2010 following hikes in October and April. Inflation has become Beijing's top economic concern as it struggles to keep a lid on rising costs of food and other key items to head off public unrest. Consumer prices rose at a stubbornly high 4.9 per cent in the year to January, the government announced last week. The fuel price hike generated angry postings in China's Internet chatrooms, with many blaming the government for the increase. "The reform commission should be reformed because these price rises are not being thought out," said one posting on the Twitter-like microblog Weibo. "You say you want to curb rising food and grain prices so you raise fuel prices, so are you saying food prices will not rise even as transport costs go up?" Recommend Send IM Story Print Related Articles Zain rejects all bids for Saudi ops; Kharafi ups ante Reuters - 27 minutes ago BHP chief confident on China AFP - 55 minutes ago UAE's Arabtec unit wins $56 mln contract for Shah gas Reuters - 1 hour 14 minutes ago Nepal's growing middle class takes to the malls AFP - 1 hour 20 minutes ago Syndicate Bank board apporves pref allotment of shares Reuters - 1 hour 20 minutes ago News Search Top Stories Baddeley leads, Couples lurks at Riviera golf open Mourinho home joy as Real close gap on Barca Global warming could spur toxic algae, bacteria in seas US House cuts $61 bn in spending, shutdown looms Libyan regime hits back with deadly crackdown More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Britain's Fergie 'not invited to royal wedding' Mourinho home joy as Real close gap on Barca Obama vows US will 'out-hustle' world Global warming could spur toxic algae, bacteria in seas Fewer big fish in the sea, say scientists More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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