China’s National Development and Reform Commission (NDRC) announced Thursday a cut in domestic fuel prices, the Hong Kong Economic Journal reported. Petrol price has been lowered by 160 yuan (US$26.27) a ton while diesel price has been cut by 155 yuan per ton, with effect from Friday, the report said. It marked the first time domestic refined oil products saw three consecutive price cuts since the introduction of the new pricing mechanism. The NDRC last adjusted prices down on Nov. 1.
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