Economic Observer Online
July 11, 2012
Translated by Zhu Na
Original article: [Chinese]

 
The National Development and Reform Commission (NDRC) Wednesday cut retail fuel prices for the third successive month, as declines in the price of crude prompted the government to restore gasoline and diesel prices to their level at the beginning of 2011.

The NDRC cut 420 yuan off the maximum gasoline price per ton and 400 yuan off its price cap for the sale of diesel, representing per liter cuts of 0.31 yuan and about 0.34 yuan respectively.

Standard grade gasoline, or 93#, will now cost less than 6 yuan a liter in almost two thirds of the country. Everywhere except Beijing and Shanghai, diesel will be priced at less than 6 yuan a liter.