China has raised gasoline and diesel prices. But the amount is less than half the increase of crude oil in the past month.

The National Development and Reform Commission says it will allow the price of gasoline to rise by as much as 4 percent to 310 yuan a ton and diesel by 300 yuan per ton. The price adjustment comes into effect Wednesday.

It's the fourth increase this year spurred by the international rise in the price of crude oil. Meanwhile, the NDRC also says it will work out a subsidy plan to ensure the price hikes do not cause any substantial impacts on low-income oil consumers or the public transport industry.