Home / Business / Energy Tools: Save | Print | E-mail | Most Read | Comment
Impact of Beijing oil price rise limited
Adjust font size:  ZoomIn ZoomOut

Beijing raised gasoline and diesel prices by up to 4 percent to make up for the higher cost of cleaner fuel, but an analyst said such a regional move would have limited impact on the earnings of China's two refining giants.

The rise, effective yesterday, is to help cover the cost of the costlier but cleaner Euro IV standard fuel, which was introduced to the Olympic host city at the start of this year, according to a notice on the Website of the Beijing Municipal Commission of Development and Reform.

Retail benchmark prices for gasoline jumped 200 yuan (US$29) a ton, or more than 2 percent, while diesel rose 290 yuan a ton, around 4 percent.

At Beijing's pump stations, prices were raised to as much as 6.37 yuan a liter from 6.20 yuan for the 93-octane gas, and to 6.78 yuan from 6.60 yuan for the 97-octane.

"As the move is confined to Beijing and Euro IV (fuel), and the hike is not significant, we don't see too big an impact on PetroChina Co and Sinopec Corp, and we would maintain previous earnings forecast on them," CITIC Securities analyst Yin Xiaodong said.

Beijing consumes around 6 million tons of gasoline and diesel that meet Euro IV a year, accounting for only a small proportion of national fuel output, which amounted to 130 million tons in the first eight months of the year, Yin said.

Sinopec and PetroChina contribute over 85 percent of domestic fuel output.

The capital is the only city on the Chinese mainland supplied by fuels meeting the Euro IV emission standards, so the latest increase, which came on top of a substantial nationwide hike of up to 18 percent in June, is a logical move.

There were no changes to the prices in other Chinese cities this time.

That said, a nationwide price rise won't come in the near term and is also not necessary against the backdrop of weaker crude prices, said Niu Li, an economist at the State Information Center.

(Shanghai Daily October 8, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Beijing hikes prices for gas, diesel oil
- Drivers rush to tank up amid oil price hike rumor
- Speculation blamed for oil price hike
- MOFCOM calls for market stabilization after oil price hike
Most Viewed >>
- Telecom companies ordered to share, co-build infrastructure
- China's central bank dismisses bailout rumor
- China Mobile says iPhone not 'the only choice'
- Experts: China little affected by US financial crisis
- Premier says China's financial system 'safe and sound'
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
主站蜘蛛池模板: 久久99中文字幕伊人| 亚洲熟妇av一区二区三区宅男| 狠狠色伊人亚洲综合网站色| 在线免费观看毛片网站| 一品道一本香蕉视频| 日日AV拍夜夜添久久免费| 久热这里有精品| 欧美人xxxx| 亚洲欧美另类自拍| 特级无码毛片免费视频尤物| 内地女星风流艳史肉之| 色欲狠狠躁天天躁无码中文字幕 | 国产叼嘿久久精品久久| 国产精品宅男在线观看| 91大神精品网站在线观看| 天天摸天天做天天爽| а√天堂中文在线资源bt在线| 成人国产欧美精品一区二区| 久久久久久久波多野结衣高潮| 日韩在线免费视频| 亚洲13又紧又嫩又水多| 欧美zozozo人禽交免费大片| 亚洲国产精品一区二区三区久久| 污污的小说片段| 亚洲精品无码久久久久秋霞| 狠狠躁日日躁夜夜躁2022麻豆| 免费a级毛片无码鲁大师| 福利一区二区三区视频在线观看| 内射老妇BBWX0C0CK| 精品成人AV一区二区三区| 啊~用力cao我cao烂我小婷| 色欲精品国产一区二区三区AV| 国产中文欧美日韩在线| 超清中文乱码精品字幕在线观看| 国产偷国产偷亚洲高清在线 | 年轻的嫂子在线线观免费观看 | 污视频在线网站| 亚洲色偷偷色噜噜狠狠99网| 爱福利极品盛宴| 亚洲精品国产高清在线观看| 波多野结衣痴汉电车|