Member access

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

End-of-day quote. End-of-day quote SHANGHAI STOCK EXCHANGE - 03/02
6.26 CNY   -0.95%
02/18DJAsian Shares Rise as Greece Tensions Ease--Update
02/17DJADR Shares End Higher; Chinese Oil Majors' Shares Rise
02/17 CHINA PETROLEUM : Announcement in Relation to the Results of the Red..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

China NDRC To Cut Gasoline, Diesel Prices -C1 Energy

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

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

React to this article
Latest news on CHINA PETROLEUM & CHEMICAL
02/27 Sinopec Is The Best Of China's Big Oil Plays
02/18DJAsian Shares Rise as Greece Tensions Ease--Update
02/17DJADR Shares End Higher; Chinese Oil Majors' Shares Rise
02/17 CHINA PETROLEUM & CHEMICAL : Announcement in Relation to the Results of the Rede..
02/16 CHINA PETROLEUM & CHEMICAL : Sinopec’s “Clear Water, Blue Sky”..
02/16 CHINA PETROLEUM & CHEMICAL : SEI Receives HI-TECH Enterprise Certificate
02/16DJChina to Allow Crude Imports by Independent Refiners
02/12 CANADA LOOKING AT LNG TAX BREAKS IN : document
02/12 China's graft-busters target SOEs ahead of reform
02/11 CHINA PETROLEUM & CHEMICAL : A homeward bound motor "gang"
Advertisement
Chart
Duration : Period :
China Petroleum & Chemical Technical Analysis Chart | 600028 | CNE0000018G1 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF