China to Increase Fuel Tax to Curb Pollution, Carbon Emissions
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China increased its fuel-consumption tax the first time in five years amid falling global oil prices as part of steps to fight pollution and cut carbon emissions.
China will boost the tax on gasoline, naphtha, solvent oil and lubricating oil by 0.12 yuan a liter, according to a statement posted on the Ministry of Finance’s website yesterday. The levy on diesel, jet fuel and fuel oil will increase by 0.14 yuan a liter. The new levels are effective starting today.