China to cut oil products prices 3.3%-5.5%; Economic agency aligns fuel prices with crude basket, domestic demand

摘要

Hong Kong-China's domestic selling prices for gasoil, gasoline and jet fuel will be cut by between 3.3% and 5.5% from July 29, the fifth revision this year. The National Development and Reform Commission, the country's top economic policy planner, said July 28 that ex-refinery prices of gasoline and gasoil would be reduced by Yuan 220/mt effective July 29. The new ex-refinery price of gasoline will be Yuan 6,510/mt ($110.8/barrel), down 3.3% from the current Yuan 6,730/mt, NDRC said in a statement released on its web site. The ex-refinery price of gasoil will be 3.7% lower at Yuan 5,770/mt ($113.4/b), from the existing Yuan 5,990/mt.