With gasoline and diesel-fuel prices falling for a third time since May on Wednesday, pressure on policymakers to revise the fuel-pricing mechanism has eased, as has the country's pressure from inflation, said analysts。

　　China cut gasoline prices by 420 yuan ($66) per metric ton and diesel by 400 yuan starting from Wednesday. The retail gasoline price drops to lower than 7 yuan per liter in most cities after the latest round of cutting。

　　This is the third consecutive cut since May, but a fourth one is unlikely unless the international market tumbles sharply, said Niu Li, a senior economist with the State Information Center, a government think tank。

　　China's gasoline and diesel prices are set by the National Development and Reform Commission, the nation's top economic planning agency, under a mechanism that tracks the 22-day moving average of a basket of crudes comprising Brent, Dubai and Cinta。

　　The NDRC has earlier implied it would reform the fuel-pricing mechanism by shortening the pricing time and increasing transparency. Industry insiders said a reform proposal has been submitted to the State Council, but has yet to be approved。

　　However, with global prices falling, analysts and officials have lowered expectations of short-term reform。

"The existing formula will be strictly followed at this stage," said a NDRC official, who declined to be named。　　"The existing pricing mechanism will continue to work as the declining global crude oil price has reduced the urgency of shortening the pricing time," said Niu。　　Zhou Wangjun, deputy director of the NDRC's price department, said the existing mechanism works "relatively successfully", but it needs to be improved in reducing pricing time and range。　　The nation is waiting for an "appropriate time" to revise its fuel-pricing mechanism when international oil prices reach a relatively reasonable level, Zhou said。　　Before that, the fuel rates will continue to be adjusted when the moving average of the basket of reference crude prices rises or falls more than 4 percent。　　That moving average price of the Brent, Dubai and Cinta basket dropped by 9.57 percent between June 7 and July 9, according to JYD Online Co Ltd, a bulk commodity consultant based in Beijing。　　Meanwhile, the lower fuel prices will continue to reduce the nation's inflation pressure。　　China's consumer price index, a main gauge of inflation, had eased for four consecutive months in June, with growth slowing to 2.2 percent from a year earlier, the lowest in 29 months。　　Han Jingyuan, an energy analyst with JYD Online, said a 10-percent cut in oil prices usually leads to 0.1 percent decrease in CPI。　　The fuel price cut will erode margins at the nation's biggest refiners, such as China Petroleum & Chemical Corp and PetroChina Co。　　Both companies reported crude-processing losses in the first quarter。　　However, it will lower costs of major energy-consuming industries such as transportation, automobile, aviation and petrochemicals, and pass on the influence to consumer inflation eventually, the JYD analyst said。　　【新闻快讯】　　国家发改委昨日宣布，自7月11日零时起，将汽、柴油价格每吨分别降低420元和400元。测算到零售价格，90号汽油和0号柴油(全国平均)每升分别降低0.31元和0.34元。这是2009年我国现行定价机制实施以来油价首次“三连降”。　　全国多个地区的成品油价格将重回“6元”时代，接近3年前水平。不过北京、上海等城市价格依然在“7元”水平。按此降幅，北京市京标92号汽油(原93号)和95号汽油(原97号)的最高零售价分别为7.31元/升和7.78元/升，降幅分别为0.33元/升和0.36元/升。　　发改委有关负责人表示，此次油价下调严格按照定价机制执行。受国际经济形势影响，国际市场原油价格继续保持低迷，截至7月9日，国内油价挂钩的三地原油变化率下跌超过4%，达到国内成品油价格调整的边界条件，据此国家决定及时下调国内成品油价格。　　此前两次国内油价下调分别是5月10日、6月9日。发改委表示，“三连降”以后，各个市场的库存比较低，秋季将要迎来柴油用油高峰，因此要求三大石油公司保持合理库存，加强综合协调和应急调度，保证成品油的正常供应。　　关于国内成品油价格的调整，“涨快跌慢”是此前不少国内公众的评价。有统计显示，自2009年以来，国内成品油价格调整19次，其中12涨7跌。截至目前，今年国内成品油价格共有5次调整，其中“2升3降”，改变了往年“涨快跌慢”的趋势。发改委有关负责人表示，从最近三次的下调动作可以看出，基本上不存在“涨快跌慢”。