日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Chinadaily.com.cn
 
Go Adv Search
Fuel prices raised by 6.5-7%

Fuel prices raised by 6.5-7%

Updated: 2012-03-20 08:03

By Zhou Yan (China Daily)

  Comments() Print Mail Large Medium  Small

Higher global crude costs, falling domestic inflation lead to decision

Fuel prices raised by 6.5-7%

Vehicles queue to fill their tanks before the fuel price hike at midnight at a petrol station in Fuzhou, Fujian province March 19, 2012. [Photo/Xinhua]

China raised fuel prices for the second time this year, hiking gasoline and diesel by 6.5 percent to 7 percent effective on Tuesday, amid rising world crude oil prices and falling domestic inflation.

Prices went up by 600 yuan ($94.90) a metric ton, the biggest hike since June 2009.

The average gasoline price went up 6.5 percent to 9,980 yuan a metric ton, while diesel prices rose 7 percent to 9,130 yuan a metric ton.

Both prices are record highs.

China, the world's second-biggest oil user, raised fuel prices for the first time this year by 300 yuan a ton on Feb 8.

The prices are set in reference to a basket of crudes (Brent, Dubai and Cinta), which jumped more than 10 percent in the past 22 working days.

Fuel prices raised by 6.5-7%

That surge laid the foundation for the hike, the National Development and Reform Commission (NDRC) said on Monday.

The NDRC said the raises will take effect before the spring peak use period to discourage speculation and hoarding and thus guarantee supply.

China introduced the current system in 2009, under which it adjusts refined oil product prices when the basket moves more than 4 percent within 22 working days.

The formula allowed for a price hike of 700 yuan a metric ton this time around, but the government limited the increase in consideration of affordability, said the NDRC, China's top economic planner.

"The increase is much higher than the market consensus of about 300 yuan. We reckon it is due to easing domestic inflation and weaker demand on the backdrop of an economic slowdown from previous years," said Wang Jintao, an analyst at chem365.net, an online information provider for the petrochemical industry.

The consumer price index, a main inflation indicator, rose 3.2 percent year-on-year in February, a 20-month low.

China's foreign oil dependency jumped to 56 percent in 2011 from 30 percent in 2000. That's not a sustainable trend in light of the country's long-term demand for oil, so China is using the pricing system to curb excessively rapid increases in oil use, the NDRC said.

Central government subsidies to the agriculture, fishery, forestry, urban public transportation and taxi industries will be provided to offset the price hikes, the authority said.

The frequency of price adjustments - two times in as many months this year - is much more than in previous years. The government raised prices only three times last year.

The change of frequency may be a means for the NDRC to test the public response to increased price volatility, laying a foundation for further reforms, said Cindy Liang, a senior analyst at the energy information provider Platts.

The latest hike could also lift domestic refineries out of the red. These facilities were losing about 600 yuan a ton under the previous fuel prices, Liang said.

China National Petroleum Corp, the country's biggest energy company, lost 50 billion yuan in its refining division last year, Chairman Jiang Jiemin said, adding that the losses would increase this year.

"What is critical now is for the government to provide more clarity into the current scheme, which can give us leeway to adjust production and reduce losses," said Rong Guangdao, chairman of Sinopec Shanghai Petrochemical Co, which has an annual refining capacity of 12 million tons.

There's widespread market speculation that China will reduce the price-adjustment reference period to 10 days, from 22 days, to better reflect volatile global oil prices.

The NDRC hasn't said when it might further reform the pricing system.

You may contact the writer at zhouyan@chinadaily.com.cn

   Previous Page 1 2 Next Page  

主站蜘蛛池模板: 精品在线视频免费观看 | 欧美视频一区在线 | 日本一级片在线观看 | 国产午夜精品一区二区三区嫩草 | 特级做a爱片免费69 欧美色图自拍 | 美梦视频大全在线观看高清 | 日本中文字幕在线视频 | 青草91 | 伊人热久久 | 青青青草视频在线 | 精品久久久久久亚洲综合网站 | h片网站在线观看 | 九九热最新地址 | 亚洲网站视频 | 国产精品久久久久久久久久久久久久久久 | 18岁毛片| 日韩在线不卡视频 | av一区在线播放 | 午夜精品福利在线观看 | 91最新在线视频 | 四虎永久在线 | www.我爱av| 久久嫩草精品久久久久 | 欧美黑人一区二区 | 午夜影皖 | 日本a天堂 | 天天操中文字幕 | 你懂的在线观看 | 在线观看视频h | 国内精品99| 久久五月视频 | 五月天婷婷影院 | 91精品在线看 | 色女人网站 | 男人操女人免费网站 | 免费看爱爱视频 | 大号bbwassbigav另类 | 日韩中文在线观看 | 久久久久久久久久久国产精品 | 中文字幕亚洲欧美日韩 | 国产一区二区影院 |