China is likely to slash gasoline and diesel prices in the coming week due to sluggish domestic demands and a continuing crude price slump in the global market. Ma Yan, analyst with crude research website Chem365.net, predicted the authorities will cut guide prices for oil products, the last price lowering in the year after the retail prices have fell by 10 consecutive weeks in a row. The prices will decline by around 440 yuan (71 U.S. dollars) per tonne, Ma said. A research note at commodity e-commerce platform 365.com made similar predictions, estimating the price drop will be around 470 to 490 yuan per tonne for both gasoline and diesel. Oil price changes are usually announced by the National Development and Reform Commission, China’s top economic regulator, and the expected drop may be unveiled on Dec. 27 according to China’s oil pricing mechanism. Analysts […]