Beijing, March 24 (QNA) - China's National Development and Reform Commission (NDRC) announced that temporary control measures regarding retail prices of gasoline and diesel are being implemented starting last Monday, amid increases in international oil prices.

These measures have been adopted to mitigate the impact of an abnormal rise in international oil prices, reduce the burden on downstream users, and ensure stable economic operation and social livelihood, a statement released by the NDRC noted.

Based on the existing pricing mechanism, gasoline and diesel prices would have risen by 2,205 yuan (about $319.4 US) and 2,120 yuan per tonne, respectively, from Monday. Thanks to these controls, these prices will now increase by 1,160 yuan and 1,115 yuan per tonne, respectively.

These are the first such price controls since China's existing oil pricing mechanism was introduced in 2013. Analysts say the controls are a timely and effective response to the sharp rise in international oil prices and will help support the steady operation of China's domestic economy. (QNA)