Last Updated :
30 September 2009 at 15:35 IST
China cuts petrol, diesel price
BEIJING (Commodity Online) : China on Wednesday slashed petrol and diesel prices by 190 yuan per metric ton.
In a statement issued here China’s top economic planner, National Development and Reform Commission (NDRC) said the retail price of
Gasoline will fall yuan 0.14 per liter, while that of diesel will drop yuan 0.16 per liter.
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The price cut will reduce the benchmark price of gasoline to yuan 6,620 per metric ton and that of diesel to yuan 5,880 per metric ton.
Oil price adjustment was made in response to recent changes in the international
Crude Oil price, which declined to $66.84 a barrel on Sep. 28 from about $72 per barrel in mid-September, said the statement.
This is the eighth fuel price adjustment since the nation adopted a new fuel pricing mechanism, which came into effect on Jan. 1 and links domestic oil prices to international oil prices in a controlled manner.
The previous price adjustment took place on Sep. 2, when the commission raised
Gasoline and diesel prices by yuan 300 per metric ton.
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