Oil price in China will rise again tonight, with a 100-yuan (about 14.4 US dollars) hike for a ton of gasoline and 95 yuan (about 13.7 US dollars) for diesel, according to National Development and Reform Commission. This is the third price hike in a row in late 2016.

Gasoline price in China has surged by 1,005 yuan (about 144.5 US dollars) after a year of rises and falls. Max gasoline price in Beijing will be 8080 yuan (about 1161.6 US dollars) per ton, after the new price takes into effect. The average price for #92 gasoline in Beijing will be 6.48 yuan (0.93 US dollars) per liter.

China adjusts gasoline and diesel price in line with international crude oil price. If it is changed by more than 50 yuan per ton and the change lasts for more than 10 working days, China will change domestic oil price accordingly. In 2016, the price has been adjusted up nine times, and down five times.

The latest rise in international oil price was caused by a cut in output, as major oil-producing countries are trying to ease a global oversupply. However, the trend of rise will end shortly if some of those countries stopped implementing the output cut, according to an analysis in Xinhua published on Wednesday.