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China Cuts Fuel Prices
China's National Defense and Reform Commission reduced the prices of gasoline and diesel fuel by nearly 6% over the weekend to reflect declines in global oil prices.
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China's National Defense and Reform Commission reduced the prices of gasoline and diesel fuel by nearly 6% over the weekend to reflect declines in global oil prices.
The percentage cut is the deepest since the government launched its current pricing program in late 2008. The NDRC lowered fuel prices about 4% a month ago.
The latest action cut the average price of gasoline by 26 cents per gallon to roughly $4.35, according to NDRC data.
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