China to cut retail prices of gasoline, diesel for sixth time this year

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China will cut the retail prices of gasoline and diesel by 205 yuan per tonne and 200 yuan per tonne, respectively, starting Wednesday, said the National Development and Reform Commission (NDRC), the top economic planner.

This is the sixth reduction in gasoline and diesel prices this year and the fourth cut in a row since June 28.

Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per tonne and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly.