China to raise gasoline, diesel prices

 　　BEIJING, Feb. 7 (Xinhua) -- China will raise the retail¹ prices for gasoline and diesel² by 300 yuan (47.53 U.S. dollars) per tonne starting Feb. 8, the country's top economic planner said Tuesday.

　　The benchmark retail price of gasoline will be lifted by 0.22 yuan per liter and diesel by 0.26 yuan per liter, according to the National Development and Reform Commission (NDRC).

　　The latest price change, which has been anticipated by the market, comes amid rising pressure for the country's refineries³, as the increasing international crude oil futures⁴ prices keep driving up their operation costs.

　　With the easing European debt crisis and intensifying⁵ conflicts in the oil-rich Middle East, fuel prices on the international market have been climbing this year.

　　On Jan. 4, the West Texas Intermediate (WTI) futures prices rose to 103.22 U.S. dollars per barrel, an increase of 37 percent from the lowest point last October.

　　The prices of the international crude had moved beyond a 4-percent range within 22 consecutive⁶ working days on Feb. 2, triggering widespread speculation⁷ that the NDRC will move to up prices.

　　But the NDRC delayed the adjustment to Feb. 7, right after the much-celebrated Lantern Festival, which falls on Feb. 6 this year.

　　The price rise will help motivate the oil refineries, ensure supply in the domestic market, guide rational consumption and promote emission⁸ cuts, an official with the NDRC said.

　　The move follows the previous change on October 8 last year, when the NDRC announced the first price cut in 16 months, taking the fuel prices off from record highs.

　　China's current oil pricing system was introduced in May 2009. The system gives the NDRC the right to adjust domestic fuel, diesel and gas prices when average prices for Brent, Cinta, and Dubai crude oil move by 4 percent within 22 consecutive working days.

1 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

2 diesel   

n.柴油发动机，内燃机

参考例句：

• We experimented with diesel engines to drive the pumps.我们试着用柴油机来带动水泵。
• My tractor operates on diesel oil.我的那台拖拉机用柴油开动。

3 refineries   

精炼厂( refinery的名词复数 )

参考例句：

• The efforts on closedown and suspension of small sugar refineries, small saccharin refineries and small paper mills are also being carried out in steps. 关停小糖厂、小糖精厂、小造纸厂的工作也已逐步展开。
• Hence the sitting of refineries is at a distance from population centres. 所以，炼油厂的厂址总在远离人口集中的地方。

4 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

5 intensifying   

v.（使）增强， （使）加剧( intensify的现在分词 )；增辉

参考例句：

• The allies are intensifying their air campaign. 联军部队正加大他们的空战强度。 来自辞典例句
• The rest of the European powers were in a state of intensifying congestion. 其余的欧洲强国则处于越来越拥挤的状态。 来自英汉非文学 - 历史

6 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

7 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

8 emission   

n.发出物，散发物；发出，散发

参考例句：

• Rigorous measures will be taken to reduce the total pollutant emission.采取严格有力措施，降低污染物排放总量。
• Finally,the way to effectively control particulate emission is pointed out.最后，指出有效降低颗粒排放的方向。