China will reduce the retail prices of gasoline and diesel
China will reduce the retail prices of gasoline and diesel.
China will cut the retail prices of gasoline and diesel on Thursday, based on recent changes in international oil prices, the country's top economic planner said on Wednesday.
The National Development and Reform Commission (NDRC) announced a reduction in gasoline prices of 145 yuan ($20.42) per ton and diesel prices of 140 yuan per ton.
The government has directed China's three largest oil companies—China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation—and oil refineries to maintain oil production and facilitate transportation to ensure stable supplies.
The current pricing mechanism adjusts the prices of refined oil products to reflect changes in the price of crude oil internationally.
Relevant departments in various regions should intensify market supervision and inspection efforts and take strict measures to crack down on activities in violation of the national price policies to ensure market order, the NDRC said.
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China to cut gasoline, diesel retail prices
BEIJING - China will cut the retail prices of gasoline and diesel on Thursday, based on recent changes in international oil prices, the country's top economic planner said on Wednesday.
Gasoline prices will be reduced by 145 yuan ($20.42) per ton and diesel prices by 140 yuan per ton, the National Development and Reform Commission (NDRC) said.
China's three biggest oil companies -- China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation -- and oil refineries have been directed to maintain oil production and facilitate transportation to ensure stable supplies.
Under the current pricing mechanism, prices of refined oil products are adjusted in accordance with changes in international crude oil prices.
Relevant departments in various regions should intensify market supervision and inspection efforts, and take strict measures to crack down on activities in violation of the national price policies to ensure market order, the NDRC said.
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https://www.chinadaily.com.cn/a/202411/06/WS672c29aea310f1265a1cc029.html
Xinhua | Updated: 2024-11-06 19:00
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