From Saturday, the retail price of gasoline will be cut by 130 yuan ($20.3) a ton and diesel by 125 yuan a ton, the National Reform and Development Commission announced on Friday.
China will cut the price of gasoline to between 7.2 and 7.4 yuan a liter for 92-octane and the price of diesel to below 7 yuan in most cities, China Central Television (CCTV) reported.
For a car with a 50-liter fuel tank, a full tank of 92-octane gasoline will come in about 5 yuan cheaper.
The next adjustment opportunity will come on June 25, with oil prices likely to remain unchanged or slightly rise, CCTV reported, citing Li Yan, an industry analyst at oilchem.net.
