China To Lower Retail Fuel Prices
Mohammad Ali (@ChaudhryMAli88) Published September 18, 2020 | 07:45 PM
China will lower the retail prices of gasoline and diesel from Saturday, the country's top economic planner said Friday
BEIJING, (APP - UrduPoint / Pakistan Point News - 18th Sep, 2020 ) :China will lower the retail prices of gasoline and diesel from Saturday, the country's top economic planner said Friday.
Based on recent changes in international oil prices, the retail prices of gasoline and diesel will be reduced by 315 Yuan (about 46.6 U.S. Dollars) and 300 yuan per tonne, respectively, according to the National Development and Reform Commission.
Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per tonne and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly.
International oil prices had seen sharp decline in recent days, but continued slump is unlikely, the economic planner said.
China's three biggest oil companies, namely China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation, have been asked to maintain oil production and facilitate transportation to ensure stable supplies.
Recent Stories
50MP is Better than 200MP?
Mohammad Amir’s participation in T20I series against Ireland, England hangs in ..
Police arrest some lawyers after clash outside LHC
US wants basic human rights for Imran Khan, all other prisoners
Hajj season begins: Karachi Airport Set for Inaugural Flight
IHC orders Jail officials to shift Bushra Bibi to Adiala Jail from Bani Gala
Projects of worth $25b being implemented in Pakistan under CPEC framework: Ahsan
Saudi investors evince special interest in diverse fields
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 8 May 2024
Today Gold Rate in Pakistan 08 May 2024
Delegation of international investors meets Finance Minister
Federal Govt stands with Balochistan for its development: Naqvi
More Stories From World
-
N. Macedonia polls set to upend ties with EU neighbours
10 minutes ago -
Israel pounds Gaza as truce talks resume
30 minutes ago -
Russia says it captured two more villages in Ukraine
1 hour ago -
Russia 'cannot' investigate AFP journalist's 2023 killing in Ukraine: Kremlin
1 hour ago -
Indonesia April temperatures hottest in four decades: weather agency
2 hours ago -
Bangladesh recall Shakib for last two Zimbabwe T20s
2 hours ago
-
11 Hajj flights carrying 2,160 Pakistani pilgrims to land in Madinah on Thursday
2 hours ago -
Leading Pakistani media group publishes 60th episode of BRI column
2 hours ago -
Fighter jet crashes at Singapore airbase
2 hours ago -
April temperatures in Indonesia hottest for more than four decades
2 hours ago -
Dozens of cholera cases reported in flood-hit Kenya
2 hours ago -
Bangladesh recall Shakib for last two Zimbabwe T20s
2 hours ago