Higher global crude costs, falling domestic inflation lead to decision

　　China raised fuel prices for the second time this year, hiking gasoline and diesel by 6.5 percent to 7 percent effective on Tuesday, amid rising world crude oil prices and falling domestic inflation。

　　Prices went up by 600 yuan ($94.90) a metric ton, the biggest hike since June 2009.

　　The average gasoline price went up 6.5 percent to 9,980 yuan a metric ton, while diesel prices rose 7 percent to 9,130 yuan a metric ton. Both prices are record highs。

　　China, the world's second-biggest oil user, raised fuel prices for the first time this year by 300 yuan a ton on Feb 8.

　　The prices are set in reference to a basket of crudes (Brent, Dubai and Cinta)， which jumped more than 10 percent in the past 22 working days。

　　That surge laid the foundation for the hike, the National Development and Reform Commission (NDRC) said on Monday。

　　The NDRC said the raises will take effect before the spring peak use period to discourage speculation and hoarding and thus guarantee supply。

　　China introduced the current system in 2009, under which it adjusts refined oil product prices when the basket moves more than 4 percent within 22 working days。

　　國家發改委19日宣布，自3月20日零時起將汽、柴油價格每噸提高600元，相當于全國90號汽油和0號柴油平均每升分別提高0.44元和0.51元。業內人士稱，此次成品油價格上調幅度是2009年7月以來最大的一次，調整后的汽柴油價格創歷史新高，93號汽油步入8元時代。

　　國家發改委有關負責人說，根據現行成品油定價機制，當國際市場原油連續22個工作日移動平均價格超過4%時，可相應調整國內成品油價格。2月8日成品油價格調整后，受伊朗核危機等因素影響，國際市場油價大幅攀升。2月下旬和3月上旬，美國西德克薩斯原油和英國北海布倫特原油期貨價格分別達到每桶109.8美元和126.2美元，均創2011年4月份以來的最高水平。