https://sputnikglobe.com/20220823/china-cuts-fuel-prices-for-fifth-time-since-june-1099914660.html
China Cuts Fuel Prices For Fifth Time Since June
China Cuts Fuel Prices For Fifth Time Since June
Sputnik International
BEIJING (Sputnik) - The Chinese National Development and Reform Commission (NDRC) on Tuesday reduced gasoline prices by $29.9 per tonne and diesel prices by... 23.08.2022, Sputnik International
2022-08-23T17:20+0000
2022-08-23T17:20+0000
2022-11-15T14:20+0000
china
gasoline
petrol
oil
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"In accordance with the latest changes in oil prices on the world market and the current mechanism of price setting on petroleum products, domestic gasoline and diesel prices will be reduced by 205 yuan ($29.9) and 200 yuan ($29.2) per tonne respectively starting at 24:00 on August 23, 2022 [18:00 GMT on August 23]," NDRC said on its website.The commission added that China's leading oil companies, including PetroChina, China Petroleum & Chemical Corporation, and CNOOC, must ensure the stability of deliveries, and strictly comply with the country's pricing policy.China's pricing policy for petroleum products stipulates that if the oil price on the world market changes by over 50 yuan per tonne and remains at this level for ten working days, the cost of gasoline and diesel in the domestic market is adjusted accordingly.NDRC already decreased fuel prices in China on June 29, July 13 and 27, and on August 10. The highest decrease in fuel prices was on July 13, when gasoline prices were reduced by $53.5 per tonne and diesel prices decreased by $51.3 per tonne.
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China Cuts Fuel Prices For Fifth Time Since June
17:20 GMT 23.08.2022 (Updated: 14:20 GMT 15.11.2022) BEIJING (Sputnik) - The Chinese National Development and Reform Commission (NDRC) on Tuesday reduced gasoline prices by $29.9 per tonne and diesel prices by $29.2, the fifth such reduction since late June.
"In accordance with the latest changes in oil prices on the world market and the current mechanism of price setting on petroleum products, domestic gasoline and diesel prices will be reduced by 205 yuan ($29.9) and 200 yuan ($29.2) per tonne respectively starting at 24:00 on August 23, 2022 [18:00 GMT on August 23]," NDRC said on its website.
The commission added that China's leading oil companies, including PetroChina, China Petroleum & Chemical Corporation, and CNOOC, must ensure the stability of deliveries, and strictly comply with the country's pricing policy.
China's pricing policy for petroleum products stipulates that if the oil price on the world market changes by over 50 yuan per tonne and remains at this level for ten working days, the cost of gasoline and diesel in the domestic market is adjusted accordingly.
NDRC already decreased fuel prices in China on June 29, July 13 and 27, and on August 10. The highest decrease in fuel prices was on July 13, when gasoline prices were reduced by $53.5 per tonne and diesel prices decreased by $51.3 per tonne.
