China's NDRC cuts prices for fuel by about 3.5%, hoping to ease costs for consumers and lower...

|By:, SA News Editor

China's NDRC cuts prices for fuel by about 3.5%, hoping to ease costs for consumers and lower (reported) inflation. The news won't be welcome at the country's beleaguered refiners who had hoped to take advantage of falling world oil prices by finally producing product at a profit. Sinopec (SHI) -31% YTD.