CHINA has raised retail prices for gasoline by 300 yuan (US$48) per ton and for diesel by 285 yuan per ton as global oil prices stabilize after dropping more than 50 percent since last June.

    The increase, effective Saturday, is the fourth this year by the National Development and Reform Commission (NDRC), which can adjust fuel price ceilings on a bi-weekly basis.

    The pricing system, adopted in March 2013, ensures a closer link to the global price of crude oil.

    (SD-Agencies)