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China cuts fuel prices again as economic slowdown bites

Category: Business

Published: 8th Jun 2012 13:56:28

China's price-control body, the NDRC, is reducing petrol and diesel prices by 5% from Saturday.

The second cut in a month reflects sharp falls in world crude oil prices.

On Thursday, China's central bank cut the cost of borrowing for the first time for four years amid fears of a sharp economic slowdown

Many fear the world's second biggest economy is faltering, and economic data for May, due to be released on 9 June, is expected to be disappointing.

Source:
BBC News External Link Show Citation

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BBC News, 2012. China cuts fuel prices again as economic slowdown bites [Online] (Updated 8th Jun 2012)
Available at: http://www.ukwirednews.com/news/1433495/China-cuts-fuel-prices-again-as-economic-slowdown-bites [Accessed 28th Aug 2014]

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