Unexpected oil price hike

Cars wait to fill up at a gas station in Chongqing. National Development and Reform Commission (NDRC) raised fuel prices unexpectedly this morning by 300 yuan ($43.92) per ton. Gasoline prices went up 0.22 yuan ($0.03) per liter, and diesel rose 0.26 yuan ($0.04) per liter. This is the sixth price adjustment this year following a 200-yuan price cut July 29. Fuel prices were expected to be adjusted Thursday according to NDRC's latest regulation  the oil price may be revised if the reference price rises or declines 4 percent for 22 consecutive working days. Photo: CFP