China cuts gasoline, diesel prices by CNY90-95/tonne from 7 June

06 June 2013 10:20  [Source: ICIS news]

SINGAPORE (ICIS)--China will reduce fuel prices in the domestic market by yuan (CNY) 90-95/tonne ($15-16/tonne) from 7 June, to reflect weakening crude values, the National Development and Reform Commission (NDRC) announced on Thursday.

Its average retail price for 90-RON gasoline will be reduced by NCY95/tonne to CNY8,925/tonne, while that of zero pour point diesel will be shaved by CNY90/tonne to CNY8,115/tonne, according to NDRC.

Under the existing scheme, gasoline and diesel prices would be adjusted every 10 working days based on prices of a basket of international crude. Fuel prices would not be adjusted if the changes are less than CNY50/tonne.

($1 = CNY6.13)

By: Fanny Zhang
+65 6780 4359

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