|
Retail prices for gasoline have been raised by 0.25 yuan (US$0.03) per
liter in Shenzhen amid soaring world oil prices.
According to Shenzhen Petro, No. 90 gasoline now costs 3.74 yuan per
liter with No. 93 costing 3.95 yuan per liter and No. 97 costing 4.34 yuan
per liter.
The price increases take effect Wednesday but retail diesel prices
remain unchanged.
The adjustment was made in line with a notice issued by the State
Development and Reform Commission to raise retail gasoline prices in
China, the company said. Crude oil prices on the international market
soared to more than US$55 per barrel and have been close to US$60 this
month.
Oil prices remained high Monday in the world
markets despite last week's announcement by OPEC to raise its production
ceiling
by 500,000
barrels per day. The oil cartel is consequently to consider a further
output increase this week.
Oil prices posted at US$57.46 per barrel in the United States on
Monday, almost the highest as was seen last week.
China has raised gasoline retail prices five times since the end of
2003. The price for No. 90 gasoline has jumped to 3.74 yuan per liter from
2.85 yuan per liter in December last year while No. 97 has risen to 4.34
yuan per liter from 3.35 yuan per liter.
(Xinhua/Shenzhen Daily) | 
Updated: 2005-03-23 08:57
