China cuts domestic fuel prices by CNY235-245/tonne from 30 Sept

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)

By: Fanny Zhang
+65 6780 4359

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