Further price rises may be needed if the cost of oil keeps rising on the international market, analysts said.
Instability in the Middle East has raised concerns about supply, and the price of oil has climbed to more than $100 per barrel. China's National Development & Reform Commission (NDRC) said that the price rise was needed to slow demand for oil and fuel in China. China's latest price increase works out at four cents per litre of petrol and five cents per litre of diesel.