Member access

4-Traders Homepage  >  Shares  >  SHANGHAI STOCK EXCHANGE  >  China Petroleum & Chemical Corp    600028   CNE0000018G1

SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

China NDRC To Cut Gasoline, Diesel Prices -C1 Energy

05/09/2012 | 04:22am US/Eastern
Recommend:
0

China's National Development and Reform Commission will cut gasoline and diesel prices by CNY330 and CNY310 a metric ton, respectively, energy consultancy C1 Energy said Wednesday, citing an oil industry person familiar with the matter.

This would mean a decline of 3.3% in the average retail ceiling benchmark for gasoline of CNY9,980 a metric ton, and a drop of 3.4% in the average retail ceiling benchmark for diesel of CNY9,130 a ton, according to Dow Jones Newswires calculations.

The exact price ceilings vary by geographic location.

The NDRC last changed gasoline and diesel prices on March 20, raising them by CNY600 a ton, in response to rising international oil prices.

Under China's oil product pricing system, domestic fuel prices may be adjusted when the moving average of a basket of international crudes changes more than 4% over a period of 22 working days.

The government hasn't always rigidly followed the formula, which was introduced in 2009.

In the past, C1 Energy has generally been reliable in its reports on China's fuel price changes ahead of the NDRC's official announcement.

-By Wayne Ma, Dow Jones Newswires; +86 10 8400 7714; wayne.ma@dowjones.com

Recommend :
0
React to this article
Latest news on CHINA PETROLEUM & CHEMICAL
5d ago CHINA PETROLEUM & CHEMICAL : Climate change brings out stars at the United Natio..
09/22 CHINA PETROLEUM & CHEMICAL : Sinopec Plans Spinning Off Marginal Business
09/19 Arkema offers Total $2.2 billion for Blu-Tack maker Bostik
09/19 CHINA PETROLEUM & CHEMICAL : Retail ties help Sinopec move to mixed ownership
09/18 CHINA PETROLEUM & CHEMICAL : Retail ties help Sinopec move to mixed ownership
09/18 CHINA PETROLEUM & CHEMICAL : Retail ties help Sinopec move to mixed ownership
09/18 CHINA PETROLEUM & CHEMICAL : East China Sea Energy Profile: Exploration Hindered..
09/17 CHINA PETROLEUM & CHEMICAL : SINOPEC Wins "2014 Global Competitiveness Brands - ..
09/16 CHINA PETROLEUM & CHEMICAL : ENN's buy of Sinopec's retail business no rating im..
09/16 Exclusive - Total resumes $2.5 billion Nigerian deepwater oil field sale
Advertisement
Chart
Duration : Period :
China Petroleum & Chemical Technical Analysis Chart | 600028 | CNE0000018G1 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF