BEIJING (Commodity Online) : China's National Development and Reform Commission (NDRC) on Monday slashed gasoline prices by 230 yuan per tonne and diesel prices by 220 yuan per tone.
However, NDRC increased onshore domestic gas prices by 24.9 percent to 1,155 yuan ($169.1) per tone per 1,000 cubic metres.
According to the top planning body, the changes will take effect from Tuesday.
China is expected to import more than 15 billion cubic metres of gas this year, almost double the 7.8 bcm it imported in 2009, the NDRC said.
China will cut gasoline prices by 230 yuan (US$33.7) per tonne and reduce diesel prices by 220 yuan per tonne from Tuesday, the National Development and Reform Commission (NDRC) announced Monday.