China’s consumption tax on oil products rises today for the third time since the end of November as the government deepens efforts to tackle environmental problems through less energy consumption.
The tax on gasoline goes up from 1.40 yuan (23 US cents) to 1.52 yuan per liter, while diesel sees an increase from 1.10 yuan to 1.20 yuan per liter, the Ministry of Finance and the State Administration of Taxation said in a joint statement yesterday.
Other petroleum products, including naphtha, lubricating oil and jet fuel, will also be hit by the rise in the tax.
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