Chinese oil prices start to slide

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2012-06-10

Amid fears of a sharp economic slowdown Chinese petrol and diesel prices are set to fall this coming week as part of the world slowdown in crude oil prices.

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The NDRC, the Chinese price control agency has decided to reduce the cost of petrol and diesel prices by 5%.

Price cuts are occurring in China as the world's second biggest economy starts to falter.

New economic data which is due for release this week is expected to be a disappointment to China's central bank which had to cut the cost of borrowing on Thursday for the first time for four years.

Source: China News.Net

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