The Chinese central government Aug 25 raised prices of gasoil and gasoline for the domestic market by Yuan 220-240/mt(US26.58-29.00/mt),ending market speculation since May of price hikes amid skyrocketing international oil prices.New guidance price for 90 RON gasoline was set at Yuan 3,750/mt(US453/mt)ex-refinery,up Yuan 240/mt or 6.84%.Price of gasoil rose Yuan 220/mt,or 7.1%,to Yuan 3,320/mt(US401/mt)ex-refinery.This is the second price adjustment for the products so far this year.Beijing last raised ex-refinery prices of gasoline for the domestic market by Yuan 300/mt Mar 31.This was followed by a Yuan 280/mt ex-refinery price increase for gasoil,implemented May 18.
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