Sunday, 22 September 2019 01:36 GMT
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China to cut gasoline, diesel prices in April




(MENAFN) China's top economic planner said the country will lower the retail prices of gasoline and diesel from Monday.

Due to value-added tax (VAT) rate adjustment starting next month, the retail prices of gasoline and diesel will be vut by 225 yuan per ton and 200 yuan per ton respectively.

Meanwhile, the VAT rate for refined oil products will be dropped from 16 percent to 13 percent.

Under the current pricing mechanism, prices of refined oil products are adjusted when international crude oil price changes translate into a change of no less 50 yuan per ton for gasoline and diesel prices within a period of 10 working days.

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China to cut gasoline, diesel prices in April

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