(PENG ZHAOZHI)

A staff member changes the price labels at a gasoline station in Yinchuan, capital of northeast China's Ningxia Hui Autonomous Region.

China cut the retail price of gasoline by 310 yuan ($49.91) per ton and diesel by 300 yuan ($48.3) per ton on March 27.

The National Development and Reform Commission announced a new pricing system that will adjust the prices of oil products every 10 working days to better reflect changes in the global oil market.