China to cut fuel prices by CNY75-80/tonne from 6 July

05 July 2013 10:22  [Source: ICIS news]

SINGAPORE (ICIS)--China will trim prices of domestic fuel by yuan (CNY) 75-80/tonne ($12-13/tonne) from 6 July, the country's National Development and Reform Commission (NDRC) said on Friday.

The national average retail price of 90-Ron gasoline will fall by CNY80/tonn to CNY8,945/tonne, while zero pour point diesel will be priced at CNY8,135/tonne, down by CNY75/tonne, the NDRC said.

China adjusts its gasoline and diesel prices every 10 working days based on prices of a basket of international crude. But 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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