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Higher quality fuels prices to rise
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China will raise prices for higher quality fuels to encourage production at refineries as the government accelerates its battle to combat air pollution.
But Shanghai motorists are likely to suffer only a small impact because fuels sold in the city are already among the cleanest in the country.
The National Development and Reform Commission said yesterday that motor gasoline and diesel that meet the National IV standard will be raised by 290 yuan (US$47.40) and 370 yuan per ton respectively over the next two years.
Prices for gasoline and diesel that meet the National V standard will rise a further 170 yuan and 160 yuan a ton respectively by the end of 2017 after upgrading from the National IV standard, according to the NDRC, which sets energy prices.
The National V fuels are similar to Euro V standard fuels with emissions of sulfur content capped below 10 parts per million (ppm), compared with 50 ppm for National IV.
China has urged Sinopec and PetroChina to upgrade refining facilities for cleaner products, with the upgrading costs being jointly borne by refiners and consumers.
In January, thick, hazardous smog engulfed much of the industrial north, including Beijing. Earlier this month, the State Council, China’s Cabinet, unveiled comprehensive measures to tackle air pollution, including slashing coal use and closing polluting factories, as well as using cleaner fuels.
Motorists in Beijing and Shanghai already pay more than in other Chinese cities because of the higher quality fuel. The capital is the only city on the Chinese mainland to have already adopted the National V standard.
Shanghai, which adopted the National IV standard ahead of the 2010 World Expo, is only subject to a 50 yuan per ton increase for both gasoline and diesel when fuel upgrade to National V is complete, the NDRC said. That will translate into a very small rise of just several fen per liter, or roughly 0.5 percent, at the pumps.
Tong Xiaojun, deputy general manager of Sinopec’s Shanghai branch, has said prices will remain flat at least until the company upgrades all its local stations by the end of October.
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