Cheaper fuel will aid logistics firms, car owners

China's top economic planning agency announced on Monday reductions in the retail prices of gasoline by 245 yuan ($39.46) a metric ton and diesel by 235 yuan, effective Tuesday-the largest cuts so far this year.

Retail gasoline prices will drop 0.18 yuan a liter and diesel prices will decline 0.2 yuan a liter, the National Development and Reform Commission said.

International crude oil prices have been declining this month because of reduced global geopolitical tensions.