China will cut the retail prices of gasoline and diesel starting Wednesday, the country's top economic planner said Tuesday. The prices of gasoline and diesel will go down by 320 yuan (about 47.81 U.S. dollars) per tonne and 310 yuan per tonne, respectively, according to the National Development and Reform Commission. The move marks the 2nd fuel-price decrease since the beginning of this year. Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per tonne and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China ... (full story)