China cuts retail prices for the fourth time this year from midnight of September 18, 2016. [Photo: Agencies]

China will cut retail prices of gasoline and diesel from midnight Sunday.

According to the National Development and Reform Commission, China's top economic planner, the gasoline prices will drop by 155 yuan, around 23.2 US dollars per tonne, while diesel prices will be cut by 150 yuan, or around 22.5 US dollars per tonne.

This is the fourth time this year that China had cut retail fuel prices.