China raises gasoline and diesel prices, effective tomorrow

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2▲2 ▼0Impact / 5
Summary · why it matters

China's National Development and Reform Commission, or NDRC, announced that China will raise retail prices for gasoline and diesel, effective tomorrow, in line with movements in global crude oil prices. China will raise gasoline prices by 260 yuan per ton and diesel prices by 250 yuan per ton. Under the current mechanism, China adjusts fuel prices every 10 working days whenever global crude oil prices change.

Impact on assets 2

Others▲
⛏RBOB Gasoline Futures
GASOLINE
▲ PositiveDemandrelevance

China raising retail gasoline prices in line with global crude signals firm crude/refined product demand, supportive for RBOB gasoline futures.

⛏Heating Oil Futures
HEATOIL
▲ PositiveDemandrelevance

China's diesel price hike tied to global crude movements points to firm refined-product demand, supportive for heating oil futures.