Oil price cuts

    THE top economic planner announced Friday cuts in the retail price of gasoline by 190 yuan (US$31.05) and that of diesel by 180 yuan per ton.

    The adjustment, effective Saturday, means retail prices will drop by 0.14 yuan per liter for gas and 0.15 yuan per liter for diesel, according to the National Development and Reform Commission. The cut has marked the eighth of its kind since July.

    Power consumption

    THE country’s electricity consumption, an important indicator of economic activity, slightly recovered in October in signs of an improving economic climate.

    Power use rose 3.1 percent year on year to 450.8 billion kilowatt hours (KWh) in October, accelerating from the 2.7 percent rise seen a month earlier, the National Energy Administration said Saturday.