China’s top economic planner announced Wednesday it will lower fuel prices due to declines in global oil prices, a move that will help control inflation levels in the world’s second-largest economy.
Retail prices of gasoline will be cut by 395 yuan (63.32 U.S. dollars) per tonne and diesel by 400 yuan per tonne starting Thursday, according to a statement by the National Development and Reform Commission (NDRC), the country’s top economic planner, on Wednesday.
The benchmark retail price of gasoline will be lowered by 0.29 yuan per liter and diesel by 0.34 yuan per liter.
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