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China announces first cuts in gasoline, diesel prices in 16 months


08:45, October 09, 2011

People replace the price board at a gas station in Chongqing, southwest China, Oct. 9, 2011. China reduces retail prices for gasoline and diesel by 300 yuan (about 47 U.S. dollars) per tonne starting Oct. 9.The benchmark retail price of gasoline is cut by 0.22 yuan per liter and diesel by 0.26 yuan per liter, according to the National Development and Reform Commission (NDRC). (Xinhua/Li Jiang)

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