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Shanghai’s fuel prices up 2% today
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Shanghai’s fuel prices will rise nearly 2 percent from today as rates are raised to reflect higher crude oil costs.
The ceiling price for 92-octane gasoline rises to 7.77 yuan (US$1.27) per liter from 7.63 yuan while 95-octane climbs to 8.26 yuan from 8.11 yuan. Drivers will now pay 7.66 yuan per liter for zero-grade diesel, up from 7.52 yuan.
Shanghai has among the highest pump prices in China because of higher fuel quality.
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 pushes to use fuel meeting the Euro V specifications.
Nationwide, the government raised gasoline price by 160 yuan per ton and that of diesel by 155 yuan per ton. That’s equivalent to a national average increase of 0.12 yuan per liter for the benchmark 90-octane gasoline and a 0.13 yuan rise for zero-grade diesel, according to the National Development and Reform Commission.
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