Retail fuel rates reduced after global crude falls

NDRC measures likely to affectdomestic refining companies

With world crude oil prices tumbling, China's top economic planning agency said that it will lower domestic fuel prices by about 300 yuan ($49) a metric ton effective Saturday, the sixth cut in four months.

Retail gasoline prices will drop 300 yuan a ton and diesel prices will fall 290 yuan a ton, the National Development and Reform Commission said on Friday.