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China May Raise Fuel Prices for First Time in Six Months on Oil

China may increase local fuel prices for the first time in six months following a rally in oil prices.

The nation may raise gasoline and diesel retail rates by 175 yuan ($27) a metric ton on April 26, ICIS China, a Shanghai-based commodity researcher, said in an e-mailed report. Brent oil, the international benchmark, has surged more than 60 percent from a 12-year low in January. China last increased fuel prices in October.