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Fine for sales of diesel over set prices
Source: Xinhua |
November 24, 2010, Wednesday
|
Print Edition
Print Edition
CHINA said yesterday it would punish six companies, including affiliates of the country's two oil giants, for selling diesel above the state-set prices, in an effort to ease the diesel shortage and keep soaring prices in check.
The companies, including Sinopec's units in Wuhan and Luoyang, and PetroChina's Wuhan unit, were selling diesel at prices as high as 8 percent above the government-set price, said a statement posted on the website of the National Development and Reform Commission, the country's top economic planner.
These companies also included local refineries and oil dealers in Shaanxi, Shandong and Jiangsu provinces and according to the NDRC, the acts have exacerbated the diesel shortage and disrupted market order.
The NDRC urged local authorities to seize the illicit revenue from above-ceiling sales and fine the firms up to five times of their income.
To relieve domestic diesel shortages, Sinopec and PetroChina are raising diesel imports.
The companies, including Sinopec's units in Wuhan and Luoyang, and PetroChina's Wuhan unit, were selling diesel at prices as high as 8 percent above the government-set price, said a statement posted on the website of the National Development and Reform Commission, the country's top economic planner.
These companies also included local refineries and oil dealers in Shaanxi, Shandong and Jiangsu provinces and according to the NDRC, the acts have exacerbated the diesel shortage and disrupted market order.
The NDRC urged local authorities to seize the illicit revenue from above-ceiling sales and fine the firms up to five times of their income.
To relieve domestic diesel shortages, Sinopec and PetroChina are raising diesel imports.
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