China cuts fuel prices for sixth year

China has announced the largest reduction in gasoline and diesel prices in about six years, with gasoline prices decreased by 950 yuan per ton and diesel by 915 yuan per ton. This comes as a result of falling global oil prices and the easing of geopolitical tensions in the Middle East. Additionally, airlines have reduced supplemental fuel charges on domestic flights by 30 to 50 yuan depending on the distance, in an effort to lower domestic travel costs amid rising energy demand within the country.

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