Focus on Arts and Ecology

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China to cut gasoline and diesel retail prices

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July 1, 2022 

China will cut the retail prices of gasoline and diesel starting Wednesday, the country's top economic planner said.

The prices of gasoline and diesel will go down by 320 yuan (about $47.81) per tonne and 310 yuan per tonne, respectively, according to the National Development and Reform Commission.

The move marks the second fuel-price decrease since the beginning of this year.

China's three biggest oil companies, namely China National Petroleum Corporation, China Petrochemical Corporation, and China National Offshore Oil Corporation, have been directed to maintain oil production and facilitate transportation to ensure stable supplies.

(Sources: China Report)

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