China will raise consumption tax on oil products from Saturday, the Ministry of Finance said on Friday.
Consumption tax on gasoline, naphtha and lubricants will be raised by 0.12 yuan ($0.0195) per litre, while consumption tax on diesel, jet fuel and fuel oil will be raised by 0.14 yuan per litre, the ministry said on its website (www.mof.gov.cn). (1 US dollar = 6.1429 Chinese yuan)
(Reporting by Judy Hua and Koh Gui Qing; Editing by David Goodman)