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China cuts retail fuel prices for the first time since October, catching up to the recent fall...
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Wednesday, May 9, 2012, 7:04 AM ETChina cuts retail fuel prices for the first time since October, catching up to the recent fall in crude oil. The move promises to put more pressure on the country's refiners - Sinopec (SNP) and PetroChina (PTR) - already losing money thanks to negative margins.
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