July 10th, 2012 | Global Times Fuel prices to be cut
Gasoline and diesel prices will be lowered Wednesday, the third time this year, an official at the National Development and Reform Commission said Monday.
The conditions for a price cut have been met, Zhou Wangjun, deputy director of the NDRC’s pricing department, told CCTV. This is the first time that the NDRC has revealed a price cut before it was officially announced.
The gasoline and diesel price is expected to dip by 350 to 400 yuan ($55 to $63) per ton, or about 0.3 yuan per liter for gasoline, Liao Kaishun, an analyst with C1 energy, told the Global Times Monday.