What were the specific per-ton and per-liter price reductions for gasoline and diesel announced by China's NDRC on July 3, and what was the significance of this adjustment in terms of recent pricing trends?

According to the news, effective 24:00 on July 3, China's National Development and Reform Commission (NDRC) announced a reduction of 950 yuan per ton for gasoline and 915 yuan per ton for diesel (standard grade), translating to retail price cuts of 0.75 yuan per liter for 92# gasoline, 0.79 yuan per liter for 95# gasoline, and 0.78 yuan per liter for 0# diesel. This adjustment marked the 'third consecutive decline' in domestic refined oil retail prices and represented the largest single-price cut of the year, pushing 95# gasoline back into the '7-yuan-per-liter era' after previous increases.

How did the July 3 price cut affect national average retail prices for major fuel grades, and what were the corresponding percentage declines?

Following the adjustment, the national average retail prices stood at 7.99 yuan per liter for 92# gasoline, 8.53 yuan per liter for 95# gasoline, and 7.61 yuan per liter for 0# diesel — with respective declines of 9.4%, 9.3%, and 10.2% — as reported by Jinkuangchuang, a commodities information agency cited in the article.

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Effective July 3rd, China's National Development and Reform Commission cut domestic gasoline and diesel prices by up to 950 yuan per ton, marking the year's largest drop. This third consecutive decline pushes 95-octane gasoline back towards the "7 yuan era."

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China's Finished Oil Prices Hit Record Annual Drop, Saving ~38 Yuan per Tank

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