Economy
Financial Markets
Commodities
Industries
Energy
Real Estate
Local listed Company
Overseas-listed Company
Foreign Company
Industrial Parks


 
Energy & Commodities
 Search News  Or
China raises fuel prices by more than 6%

Mar. 20, 2012 (China Knowledge) - China's National Development and Reform Commission (or NDRC) raised the prices of gasoline and diesel by more than 6% or RMB 600 per metric ton today.
 
The move reflects an increase of 6.4% from the average gasoline retail ceiling price of RMB 9,380 per metric ton, and the diesel price increased by 7.0% from RMB 8,530 per metric ton, said analysts, adding that this is in response to rising prices in international markets.

After the price hike, the benchmark retail price of gasoline will increase by RMB 0.44 per liter and that of diesel rise RMB 0.51 per liter.

The last changed fuel prices occurred on Feb. 8, 2012 when NDRC raised the prices by RMB 300 per metric ton. Since then, the international crude oil prices have increased more than 10%.

The domestic fuel prices may be adjusted when the moving average of a basket of international crude oil price changes over 4% in a period of 22 working days, according to China's oil product pricing system that was introduced in 2009, sources reported.






Add this     
Copyright © "2015" www.chinaknowledge.com

Send feedback or comments to: news@chinaknowledge.com

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services

 E-Store

 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved