ChinaUS EUROPEASIA 中文双语Français
Business\Industries

China cuts retail fuel prices

Xinhua | Updated: 2017-06-10 10:50

China cuts retail fuel prices

A worker fills up a car with fuel at a gas station in Xi'an city, Shaanxi province, June 9, 2017. [Photo/Xinhua]

BEIJING - China will cut the retail prices of both gasoline and diesel for the fifth time this year from Friday following a drop in global oil prices, the country's top economic planner said Friday.

Gas prices will decrease by 180 yuan ($26) per ton, while the diesel price will be lowered by 175 yuan per ton, according to the National Development and Reform Commission (NDRC).

China adjusts domestic retail oil prices when international crude prices change by more than 50 yuan per ton within a 10 working-day period.

Global crude prices have fallen in recent weeks following expansion of U.S. crude oil output and inventories. The NDRC expected global crude prices to continue to fluctuate, tempered by the effects of falling OPEC output and rising U.S. production.

The NDRC said it is closely monitoring the current pricing mechanism and will continue improvements based on market changes.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US