China has reduced the retail prices of gasoline and diesel effective midnight Friday by Yuan 160/mt ($26.09) and Yuan 155/mt, respectively, the National Development and Reform Commission said Thursday. At the pump, the resulting adjustment will average Yuan 0.13/liter for diesel and Yuan 0.12/liter for gasoline, the NDRC said. China last reduced both gasoline and diesel retail prices by Yuan 75/mt on November 1. Article continues below… Request a free trial of: Oilgram News Oilgram News Oilgram News brings you fast-breaking global petroleum and gas news on and including: Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports Supply and demand trends, government actions, exploration and technology Daily futures summary Weekly API statistics, and much more Request a trial to Oilgram News The government sets benchmark retail prices for gasoline and diesel. Under the existing oil product pricing mechanism introduced in […]