Beijing - Agencies:
The National Development and Reform Commission, China's top economic planner, said the country will lower retail prices of gasoline and diesel starting from Tuesday, based on recent changes in international oil prices.
"The prices of gasoline and diesel will drop by 480 yuan (about 68.82 US dollars) per ton and 460 yuan per ton, respectively," the committee added, in a statement published by the Chinese news agency (Xinhua).
Under China's current pricing mechanism, the prices of refined oil products are adjusted according to changes in international crude oil prices.
China's three largest oil companies, China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation, were required to maintain oil production and facilitate transportation to ensure stable supplies.
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