China's top economic planner, the National Development and Reform Commission (NDRC), announced on September 16 to cut the retail price of gasoline by 140 yuan/t ($22.78) and that of diesel by 135 yuan/t, effective September 17.<br /> <br /> The adjustment means benchmark retail prices will drop to 8,300 yuan/t for gas and 7,200 yuan per tonne for diesel, the NDRC said.<br /> <br /> It is the eighth time that retail oil prices have been cut this year. The last cut came on September 1.<br /> <br /> <p> A pricing regime that came into effect last year adjusts domestic fuel prices when international crude prices change by more than 50 yuan/t for 10 working days. </p> <p style="text-align:center;"> <img src="/upfiles/news/image/20140923/20140923141041_1800.jpg" alt="" /> </p> <div style="white-space:nowrap;"> <br /> </div>