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China fuel prices hit threshold for a cut

06-05-2012 09:38 BJT

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China is considering cutting gasoline and diesel prices for a second time this year. Chinese fuel prices have hit a trigger point for the cut, after a sharp fall in crude oil prices.

Since last Friday, the moving average price of brent fell six percent, surpassing a 4-percent trigger point set by the government. Analysts predict that the cut is coming soon as soon as this Friday they say a cut which they predict may be the biggest cut in price since 2009.

Meanwhile, the country is also considering a new pricing scheme for fuel to better reflect refining costs, which some analysts predict involves lowering the trigger point and shortening the review period.



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Editor:Zhang Rui |Source: CNTV.CN

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