China is likely to cut its gasoline and diesel prices this month, as the international crude oil prices to which China's prices are linked are expected to head south.

Data showed that as of Friday, the basket of crude oil prices had gone down by an average of 1.86 percent since a previous adjustment.

If the prices maintain their current downward pace, the changing rates will move beyond the necessary 4 percent, analysts said.

China adopted an oil pricing mechanism that allows adjustment of retail fuel prices when international crude oil prices change by more than 4 percent over 22 working days.

Xinhua - Global Times