Date
19 October 2017

China may cut fuel prices Friday, Xinhua says

China is likely to cut the retail prices of gasoline and diesel on Friday under a new pricing mechanism, marking the third cut in a row this year, Xinhua reported Wednesday. During the nine working days to Wednesday, the average price of benchmark crude, including Brent, Brent DTD, Dubai and European Sea Ports Organization crude, was down 2.61 percent, the report said. Under the new pricing regime, which came into effect in March, domestic fuel prices are adjusted whenever international crude prices change more than 50 yuan per metric ton over 10 working days.

– Contact HKEJ [email protected]

TL/AC/SK

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