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Gasoline prices will drop 1% in Shanghai
By Richard Fu |
June 6, 2013, Thursday
|
Online Edition
Online Edition
PUMP rates in Shanghai will drop 1 percent beginning tomorrow, the government said, in a small adjustment to reflect changes in global crude oil markets.
The ceiling price at city gas stations for 93-octane gasoline will fall to 7.43 yuan (US$1.21) a liter from 7.50 yuan, while 97-octane gasoline will decline to 7.90 yuan from 7.98 yuan. Zero-grade diesel will sell for at most 7.32 yuan, down from 7.39 yuan, according to the Shanghai Development and Reform Commission.
Rates vary from province to province.
Across the country, the National Development and Reform Commission said it will cut the gasoline price by 95 yuan per ton and diesel by 90 yuan per ton. The commission, which sets energy prices in China, reviews fuel prices every 10 working days according to movements in crude markets. But prices won't be adjusted if the resulting fuel price changes are less than 50 yuan per ton.
The pricing mechanism was launched in late March as part of efforts to make fuel prices more market oriented. Before that, the price adjustment cycle was 22 working days, and there was also a minimum threshold for crude price changes to justify altering pump rates.
The ceiling price at city gas stations for 93-octane gasoline will fall to 7.43 yuan (US$1.21) a liter from 7.50 yuan, while 97-octane gasoline will decline to 7.90 yuan from 7.98 yuan. Zero-grade diesel will sell for at most 7.32 yuan, down from 7.39 yuan, according to the Shanghai Development and Reform Commission.
Rates vary from province to province.
Across the country, the National Development and Reform Commission said it will cut the gasoline price by 95 yuan per ton and diesel by 90 yuan per ton. The commission, which sets energy prices in China, reviews fuel prices every 10 working days according to movements in crude markets. But prices won't be adjusted if the resulting fuel price changes are less than 50 yuan per ton.
The pricing mechanism was launched in late March as part of efforts to make fuel prices more market oriented. Before that, the price adjustment cycle was 22 working days, and there was also a minimum threshold for crude price changes to justify altering pump rates.
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