China Cuts Fuel Prices Effective July 3, Saving Motorists in Guizhou 38 Yuan Per Tank

Deep News07-03 23:22

China's National Development and Reform Commission (NDRC) has announced a reduction in domestic refined oil product prices, effective from 24:00 on July 3.

The price adjustment is based on the national refined oil pricing mechanism and reflects changes in international market oil prices. Following the national directive, the price of 89# gasoline (National Standard VIB) in Guizhou province will be lowered by 950 yuan per tonne, while the price of 0# diesel will be reduced by 915 yuan per tonne from the current benchmark.

Individual retail operators are permitted to set their specific prices, provided they do not exceed the maximum wholesale and retail price limits established by the authorities.

Taking the provincial capital of Guiyang as an example, the post-adjustment retail prices per liter are as follows: 89# gasoline drops from 7.61 yuan to 6.89 yuan; 92# gasoline decreases from 8.07 yuan to 7.31 yuan; and 95# gasoline falls from 8.53 yuan to 7.72 yuan.

For a typical family car with a 50-litre fuel tank, filling up with 92# gasoline will now cost approximately 38 yuan less than before the price cut.

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