China will reduce gasoline and diesel prices starting Friday, following recent changes in international oil prices, the National Development and Reform Commission (NDRC) announced on Thursday. Gasoline will be cheaper by 480 yuan (about 66.59 U.S. dollars) per tonne, while diesel will drop by 465 yuan per tonne.
The NDRC urged oil companies, including China’s three largest—China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation—to maintain stable production and transportation of refined oil products. This will ensure a steady supply across the country.
China adjusts the prices of refined oil products according to international crude oil price fluctuations. The price cuts reflect the government’s response to global market changes while aiming to support domestic economic stability.
The NDRC also emphasized that local authorities must enhance market supervision and inspections. Strict enforcement will follow for any violations of national price policies to maintain an orderly market.
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