China lowers petroleum products prices

Almaty. August 5. Silkroadnews – As of August 4, 2016, China lowers prices of petroleum products, Xinhua News Agency writes.

According to China’s National Development and Reform Commission, the decision was made due to the changes in the global market crude oil prices. This is the third consecutive price reduction regulation since the beginning of this year.

As of August 5 prices for gasoline and diesel fuel in the country shall drop by 220 and 215 yuan per ton respectively.

The National Development and Reform Commission is to monitor closely the current pricing mechanism operation and its impact on the market and introduce due changes if necessary.

Since the beginning of this year China three times decreased and four times raised prices of gasoline and diesel fuel. As a whole, prices for these petroleum products have risen by 90 and 85 yuan per ton respectively.