China's top economic planner says that Chinese drivers will enjoy lower gasoline and diesel fuel prices starting from Wednesday.
The retail price of gasoline will drop by 220 yuan or 35 US dollars per tonne, while the price of diesel will fall by 215 yuan per tonne.
This is the fourth consecutive drop in fuel prices since June this year and the seventh since the beginning of the year.
Under China's current fuel pricing system, the National Development and Reform Commission adjusted domestic fuel prices..
Under China's current fuel pricing scheme, the National Development and Reform Commission adjusts domestic fuel prices when international crude prices change by more than 50 yuan per tonne within a period of 10 working days.