28  June  2017

Home    About Us    Contact Us    Membership and Fee Policies   Search   Chinese  
Search
Industry in Focus
China In Focus
World Events
Business Contact
Chinese Companies
International Companies
Information Database
China Petroleum Report
Monthly Report
Annual Report
Product and Service
Platform
Laws and Regulation
Exhibition and Forums
 Infopetro -> Industry in Focus


China Cuts Retail Fuel Prices

  06/09/2017

China will cut the retail prices of both gasoline and diesel for the fourth time this year from Friday due to a drop in global oil prices, the country's top economic planner said Thursday.

Gas prices will decrease by 250 yuan ($36.21) per ton, while the diesel price will be lowered by 235 yuan per ton, according to the National Development and Reform Commission (NDRC).

China adjusts domestic retail oil prices when international crude prices change by more than 50 yuan per ton within a 10 working-day period.

International crude oil prices fell in recent weeks as concerns over a global supply glut weighed on the market, and the NDRC price monitoring center said it expects the crude oil oversupply to continue.

The extension of output cuts by major crude producers is likely to raise international oil prices in the short term, but its long-term influence should be limited, said the center, predicting that crude prices will fluctuate.

The NDRC said it is closely monitoring the current pricing mechanism and will continue improvements based on market changes.



Home | About Us | Contact Us | Membership and Fee Policies | Search
© 2017 InfoPetro Technology Development, Ltd., All Rights Reserved.  ICP05035784