China intervened to mitigate the surge in fuel prices by raising the retail price caps for gasoline and diesel by about half of the expected increase. China's state planning agency, the National Development and Reform Commission, announced on Monday that it has set a cap on fuel price hikes in the country amid rising oil prices due to the Middle East war. The commission stated that the maximum retail selling price for gasoline and diesel was increased by 1,160 yuan ($168) and 1,115 yuan per metric ton, respectively.
