China cuts retail gasoline, gasoil prices from June 9

摘要

Singapore—China’s National Development and Reform Commission said June 8 it will reduce retail prices of gasoline and diesel by Yuan 530/mt ($83.25/mt) and Yuan 510/mt ($80.11/mt) respectively from June 9. This is the deepest price cut since December 2008—when prices for both products were reduced by over Yuan 1,000/mt— and is a reflection of the slide in international crude prices in recent weeks.