for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Oil report

China cuts retail gasoline and diesel ceiling prices again

BEIJING, Sept 18 (Reuters) - China said it will cut retail ceiling prices for gasoline by 315 yuan ($46.61) a tonne and diesel by 300 yuan taking effect from Sept. 19, the first price cut in six months, according to a statement from the National Development and Reform Commission (NDRC) on Friday.

“During the last oil price adjustment period (Sept 4-17), global oil prices fell 9.3%. Accordingly, Chinese domestic retail gasoline and diesel prices will be lowered,” the statement said.

China has cut an accumulated 1,860 yuan for gasoline and 1,790 yuan for diesel this year, tracking the collapse of global oil prices amid the coronavirus outbreak.

Brent crude was up 14 cents at $43.44 a barrel by 1000 GMT while U.S. oil futures rose 9 cents to $41.06, having briefly dipped into negative territory. ($1 = 6.7577 Chinese yuan renminbi) (Reporting by Muyu Xu in Beijing and Chen Aizhu in Singapore; editing by David Evans)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up