Cheaper gas at pumps today
By Richard Fu |
July 6, 2013, Saturday
|
Print Edition
Print Edition
PUMPS rates will be down less than 1 percent in Shanghai starting today.
The ceiling price for 93-octane gasoline is now 7.44 yuan (US$1.21) per liter, down from 7.51 yuan, while 97-octane gasoline is 7.92 yuan from 7.99 yuan. Zero-grade diesel is 7.33 yuan, against 7.40 yuan.
Rates vary from province to province and Shanghai's rates are among the highest in China, in part because of higher fuel standards.
Nationwide, the price of gasoline was cut by 85 yuan per ton and diesel by 75 yuan per ton, or 0.06 yuan per liter for 90-octane gasoline and zero-grade diesel on average, the National Development and Reform Commission, which sets energy prices in China, said yesterday.
Since the commission launched a new pricing mechanism in March, changes in fuel rates tend to be smaller than before because they are adjusted more frequently. Chinese fuel rates are reviewed every 10 working days according to changes in global crude oil prices under the current system, compared with 22 working days before.
The ceiling price for 93-octane gasoline is now 7.44 yuan (US$1.21) per liter, down from 7.51 yuan, while 97-octane gasoline is 7.92 yuan from 7.99 yuan. Zero-grade diesel is 7.33 yuan, against 7.40 yuan.
Rates vary from province to province and Shanghai's rates are among the highest in China, in part because of higher fuel standards.
Nationwide, the price of gasoline was cut by 85 yuan per ton and diesel by 75 yuan per ton, or 0.06 yuan per liter for 90-octane gasoline and zero-grade diesel on average, the National Development and Reform Commission, which sets energy prices in China, said yesterday.
Since the commission launched a new pricing mechanism in March, changes in fuel rates tend to be smaller than before because they are adjusted more frequently. Chinese fuel rates are reviewed every 10 working days according to changes in global crude oil prices under the current system, compared with 22 working days before.
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