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In May, the National Development and Reform Commission raised the prices of gasoline, diesel and aviation kerosene by 10 percent, the highest hike in recent years. The soaring price of crude oil on the international market, remaining at over US$70 per barrel for prolonged periods, contributed to the decision. The price hikes continued the policy of reducing the gap between international and domestic prices and connecting domestic market fluctuations to those of international crude oil.
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