China cuts retail fuel prices

Jun 14, 2017Updated Jun 14, 20171 min read

China will cut the retail prices of both gasoline and diesel for the fifth time this year from Friday following a drop in global oil prices, the country’s top economic planner said Friday.

Gas prices will decrease by 180 yuan ($26) per ton, while the diesel price will be lowered by 175 yuan per ton, according to the National Development and Reform Commission (NDRC).

China adjusts domestic retail oil prices when international crude prices change by more than 50 yuan per ton within a 10 working-day period.

Global crude prices have fallen in recent weeks following expansion of U.S. crude oil output and inventories. The NDRC expected global crude prices to continue to fluctuate, tempered by the effects of falling OPEC output and rising U.S. production.

The NDRC said it is closely monitoring the current pricing mechanism and will continue improvements based on market changes.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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