Further reductions in gasoline, diesel prices at the pump

The retail gasoline price has been cut by 240 yuan ($38.73) a metric ton, or 0.18 yuan per liter, and diesel by 230 yuan a metric ton, or 0.2 yuan per liter, starting from Friday.

After the retail price cut, the benchmark price of 90-octane grade gasoline will be 5.73 yuan a liter.

Reacting to ongoing fluctuations in global crude prices, China's top economic planner, the National Development and Reform Commission, has raised the retail fuel prices twice and cut them twice before this latest reduction.