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Fuel prices rise on higher crude costs
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Shanghai will raise fuel prices by about 0.6 percent today to reflect higher crude oil costs.
The ceiling price for 92-octane gasoline rises to 7.82 yuan (US$1.28) per liter from 7.77 yuan while 95-octane climbs to 8.32 yuan from 8.26 yuan. The price for zero-grade diesel is now 7.72 yuan per liter from 7.66 yuan.
Shanghai has among the highest pump prices in China because of higher fuel quality. Pump prices vary among provinces and regions.
Local gas stations have upgraded and are offering the cleaner 92 and 95-octane gasoline to replace 93 and 97-octane gasoline as the government promotes fuel meeting the Euro V specifications.
Nationwide, the retail prices of the benchmark 90-octane gasoline was raised 0.04 yuan per liter and diesel price went up 0.05 yuan per liter, or 60 yuan per ton for both, according to the National Development and Reform Commission, the country’s top economic planning agency.
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