China’s government, worried that energy has gotten too cheap, said it will tighten its hold over domestic prices for gasoline and other products in response to a slide in global crude-oil prices. Under a mechanism unveiled Wednesday by China’s top economic planner, the National Development and Reform Commission, price adjustments for oil products such as gasoline and diesel will be suspended when global crude prices are below $40 a barrel. On Wednesday, global crude benchmarks were trading at less than $32 a barrel. The new mechanism follows a surprise decision by the NDRC last month to scrap its previous pricing system, which didn’t include the $40-a-barrel floor for price adjustments. At the time, the NDRC said a sharp drop in domestic fuel prices linked to cheaper crude was leading to wasteful usage and pollution. On Wednesday, […]