Home The Watchforex news China to Cut Retail Price of Gasoline and Diesel

China to Cut Retail Price of Gasoline and Diesel

by Administrator

China will cut retail prices for gasoline by 365 yuan ($58) per tonne and for diesel by 350 yuan ($56) per tonne from Tuesday as world oil prices fall, the country’s powerful economic planning agency said on Monday, the latest in a string of cuts that started in July 2014.

The National Development and Reform Commission (NDRC) can adjust the price ceilings for fuel on a bi-weekly basis, under a pricing system in effect since March 2013 that creates a closer link to the global price of crude oil.

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