Retail fuel prices jump for the first time this year

Retail gasoline and diesel prices were raised on Sunday for the first time this year on the back of the country's economic rebound, which will lead to an increase of February's consumer price index, experts said.

Retail gasoline prices jumped by 300 yuan ($50) a metric ton, or 0.22 yuan a liter and diesel prices increased by 290 yuan a ton, or 0.25 yuan a liter from Monday, the National Development and Reform Commission, the nation's top economic planner, has announced.

The price adjustment, which is within the expectations of the market, will raise the gasoline retail price to more than 8 yuan a liter again in Beijing.