China has raised gasoline and diesel prices by 350 yuan per ton, in a bid to reflect rising international crude-oil prices. It's also a move that could shake the country's taxi industry, as it pushes up operating costs.

So Beijing's transportation department is working with the municipal Development and Reform Commission to research the feasibility of a taxi fare adjustment.

But not to worry yet about more expensive fares if you live here in the capital. It could take half a year for them to come up with the adjustment plan and then implement it.

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