China's  top  economic  planner  will  not  adjust  domestic  retail oil prices as global prices 

have  stayed  below  the  official  pricing  mechanism, according  to  an  announcement on 

Tuesday. 

Under  the  current  mechanism, prices  of  refined  oil products  are  adjusted when crude 

prices  translate  into a change of more than 50 yuan (about 7.3 US dollars) per tonne for 

gasoline and diesel over a period of 10 working days. 

The  limit  aims  to  buffer  the  negative  effects of price swings, the National Development 

and Reform Commission (NDRC) said in a statement. 

The  NDRC  is  closely  watching  the current pricing mechanism and will continue to improv

e it based on market changes, according to the NDRC. 

China has cut retail oil prices once and raised retail oil prices twice so far this year.