BEIJING, July 28 - China will cut retail gasoline and diesel prices by 220 yuan per tonne, or about 3 percent, from Wednesday, the National Development and Reform Commission said on Tuesday, to track falling global crude prices. [ID:nPEK204930]

The second modest cut this year was anticipated by market analysts after the 22-day moving average of global crude costs against which Chinese fuel is priced fell by more than 5 percent since Beijing's price increase on June 30.

NOTE. Rates from Dec. 19 for gasoline and diesel are average retail ceiling prices, so differ from previous retail guide prices which retailers can raise or lower by 8 percent.

Before Nov. 1, 2007, rates were for the southern province of Guangdong, the country's manufacturing hub and the largest oil consumer by province.

First prices are in yuan per tonnes. Prices in parentheses are in U.S. cents per litre. Date Product Change Pct Change New Price US Crude 2009 -------------------------------------------------------- July 29 Gasoline -220 -2.9 7, 310 $68.30

Diesel -220 -3.2 6, 570

(81.5) June 30 Gasoline +600 +8.7 7, 530 $70