Gasoline and diesel in China will become cheaper starting Wednesday.

The top economic planner, the National Development and Reform Commission says that the retail prices of gasoline will be reduced by 310 yuan per tonne and diesel by 300 yuan per tonne. This means that the benchmark retail price of gasoline will be lowered by 0.23 yuan per liter and diesel by 0.26 yuan per liter.

The Commission also announced that the prices of oil products would be adjusted every 10 working days to better reflect changes in global oil markets. Previously, domestic fuel prices were adjusted when Brent, Dubai and Cinta crude prices changed by more than 4 percent over 22 working days.

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