China Cuts Gasoline Price, Raises Consumption Tax From Tomorrow
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China will cut gasoline price by 170 yuan ($27) per ton and lower diesel price by 400 yuan per ton starting tomorrow, according to the National Development and Reform Commission.
The government will raise the consumption tax for gasoline to 1.4 yuan per liter from 1.12 yuan per liter, effective tomorrow, the Ministry of Finance said in a separate statement.