China plans another cut in pump prices - the 3rd in 3 months - according to a report on...

|By:, SA News Editor

China plans another cut in pump prices - the 3rd in 3 months - according to a report on state-run TV. The reduction is expected to be 6.6-7.2%. Great for consumers, the news will not be welcome at the nation's beleaguered refiners (PTR, SNP), already producing fuel at a loss.