The cost of gasoline and diesel has been increased by China by four percent per ton, with the top economic planner confirming that this won't be anymore of a burden for car owners.

It should be noted that after China went for a new fuel pricing mechanism on 1st January, this has come as the sixth fuel price adjustment.

However, this time, the price of gasoline and diesel has been increased by the National Development and Reform Commission by 300 yuan, or 4 percent, which indicates an increase by 0.22 yuan a liter in retail price of gasoline, and 0.26 yuan per liter increase in diesel prices.

The price hike was said to be in balance with the international price changes by the NRDC. A hike in International crude oil prices has been seen by more than four percent since late July, and there is a possibility of China's fuel prices changing under the new mechanism, if an up or down move by more than 4% is witnessed in the price of global crude in 22 working days.

However, the price was kept the price at a moderate rate by the government, considering the market conditions and the fact that the economy is on the road to recovery.

The price hike, as per an NDRC official, would not lead to a stronger burden for car owners.

"The burden on car owners won't exceed last year's levels. The current fuel price incorporates road tolls, which were charged separately before. So the overall money they have to pay is less than last year," said Xu Kunlin, deputy head of Pricing Department of NDRC.