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flag China cuts domestic fuel prices due to global oil drop after U.S.-Iran ceasefire.

flag China is lowering its domestic fuel prices for the first time in 2026 as global oil prices drop following a ceasefire between the U.S. and Iran. flag The National Development and Reform Commission announced a reduction of 555 yuan per tonne for petrol and 530 yuan per tonne for diesel, saving drivers about $3.23 per tank. flag This adjustment follows recent price increases designed to protect consumers from soaring oil costs due to the conflict. flag Authorities have directed oil companies to maintain stable supply while warning that renewed tensions could disrupt markets.

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