综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Industries

Fuel prices to be cut on Saturday

By Du Juan (China Daily) Updated: 2014-12-27 09:29

Fuel prices to be cut on Saturday

A gas station in Nantong, Jiangsu province. Continued falls in global crude oil prices have triggered another cut in domestic retail fuel prices, with the nation's top economic planning agency saying that the revised prices will come into effect on Dec 27. [Xu Congjun / for China Daily]

More reductions likely in 2015 as international crude levels fall

The continued fall in global crude oil prices has triggered another cut in domestic retail fuel prices, with the nation's top economic planning agency saying that the revised prices will come into effect on Saturday.

According to the National Development and Reform Commission, China will cut retail gasoline prices by 520 yuan ($83.6) a metric ton, or 0.4 yuan for each liter and for diesel by 500 yuan a ton, or 0.43 yuan a liter.

Reacting to the international crude price swings, China has already cut retail prices 14 times and hiked them four times this year. The next price adjustment is scheduled on Jan 12 based on the current pricing mechanism.

Han Jingyuan, a crude analyst at JYD Online Corp, a Beijing-based bulk commodity consultancy, said given the slowing global crude demand and increasing energy supplies from the United States and the Organization of the Petroleum Exporting Countries, oil prices will continue to drop.

In 2014 gasoline prices in China dropped 2,050 yuan a ton, or 1.54 yuan a liter, and diesel prices 2,205 yuan a ton, or 1.89 yuan a liter after adjustments, according to data provided by consultancy firm Shandong Longzhong Information Technology Co.

Li Yan, a crude analyst with the consultancy, said with Saudi Arabia unwilling to cut crude output, prices are expected to fall further in the coming months. He said that China will cut retail prices again during the next pricing adjustment window.

"Considering the huge losses that the domestic refineries may incur, the authorities may also increase prices to protect the petrochemical industry, which is in accordance with the pricing regulations," he said.

Xu Ying, an oil market analyst with Longzhong, said the country's demand for refined oil products is weakening this year driven by the slowing economy. On the other hand, the rising domestic refining capacity has triggered a price decline in the oil products wholesale market.

"Many small-scale refineries had to offer huge discounts," she said.

Xue Qun, an analyst with the consultancy, said the fuel price cut will help domestic logistics companies reduce their costs, which is beneficial for the industry.

Fuel costs for a delivery truck will drop by 1,505 yuan for each 10,000 kilometers, she said. "A driver can save 32 yuan for each 1,000 kilometers with a family car, which is a good news for the public," she said.

Hot Topics

Editor's Picks
...
桂东县| 株洲县| 绥滨县| 北辰区| 汤阴县| 潢川县| 云梦县| 建瓯市| 东台市| 宁津县| 广平县| 罗平县| 巧家县| 尖扎县| 葫芦岛市| 台南市| 静宁县| 保山市| 肇源县| 德令哈市| 瑞丽市| 阜阳市| 儋州市| 康马县| 会宁县| 田阳县| 枝江市| 孝昌县| 泰宁县| 景德镇市| 全州县| 将乐县| 永安市| 营口市| 西乌珠穆沁旗| 柳林县| 蓬溪县| 宝山区| 扶绥县| 辛集市| 嘉兴市|