30 September 2013 03:36 [Source: ICIS news]
SINGAPORE (ICIS)--China’s National Development and Reform Commission (NDRC) announced on Sunday that domestic fuel prices would be cut by yuan (CNY) 235-245/tonne ($38-40/tonne) effective 30 September.
The average ceiling retail prices of 90-Ron gasoline were reduced by CNY245/tonne to CNY9,350 /tonne, while those of zero pour point diesel were cut by CNY235/tonne to CNY8,520/tonne, according to NDRC, the country’s top economic planner.
China last raised its fuel prices on 14 September, with gasoline prices nudged up by CNY90/tonne and diesel by CNY85 /tonne.
The country adjusts its gasoline and diesel prices every 10 working days based on prices of a basket of international crude. No adjustment would be made if the price movement is less than CNY50/tonne.
($1 = CNY6.12)
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