China's top 2 oil giants are cutting retail prices for petrol and diesel.
China'stop2oilgiantsarecuttingretailpricesforpetrol
anddiesel.
PetroChina and Sinopec have lowered prices by around 1 percent at some filling stations in Hubei and Shandong Provinces. While for Sinopec, it's allowing regional sellers to adjust retail prices within a certain band according to an official price-guide.
But both firms are stressing that their parent companies have yet to issue any formal notices concerning these reductions. World oil prices have tumbled from the heady peak of 147 US dollars per barrel in mid-July, to the current level of almost 60 dollars a barrel.
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