Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
China raises oil price by US$144.9 per tonne
Adjust font size:

China's top economic planner announced Thursday night the country will raise the prices of gasoline, diesel oil, aviation kerosene and electricity, revealing an unprecedented broad plan to raise energy prices.

Beginning Friday, the benchmark gasoline and diesel oil retail prices will be marked up by 1,000 yuan (144.9 U.S.dollars) per ton, with the price of aviation kerosene up by 1,500 yuan per ton.

The prices of natural gas and liquefied petroleum gas, however, would be left unchanged, according to the National Development and Reform Commission (NDRC).

The benchmark retail prices of gasoline and diesel oil would be lifted to 6,980 yuan and 6,520 yuan per ton, up more than 16 percent and 18 percent respectively.

The price rises also translate into mark-ups of 0.8 yuan and 0.92 yuan per liter, the measurement used at service stations in China, for gasoline and diesel oil respectively.

The commission said the oil price adjustment was made to ensure supplies in the country by diminishing the gap between continuously rising international crude prices, especially since February, and state-set domestic oil prices.

Crude oil price on the international market reached above 136 U.S. dollars per barrel on Wednesday, up more than 45 percent from the price when the country raised oil prices in November last year.

The government-controlled oil prices on domestic market should be blamed for a shortfall of supplies, as some refineries stopped or cut back on processing to avoid losses, said an unidentified NDRC official.

The commission said more subsidies would be offered to farmers, public transport, low-income families and taxi drivers to cushion the crunch of price rises.

For instance, farmers would get five yuan per mu (1/15 hectare) of farmland in extra subsidy; low-income families in cities would get an extra 15 yuan for each person every month starting from July, 10 yuan for such rural families.

The commission said fares for passenger travel by rail, urban and rural public transport and taxis would remain unchanged after the rise.

The official did not comment on the impact of oil price rises on the inflation rate, which eased to 7.7 percent in May. In April, it rose 8.5 percent after a 12-year high of 8.7 percent in February.

The commission also said the average electricity tariff will be raised by 2.5 fen (1 fen=0.01 yuan) per kwh starting from July 1, up 4.7 percent on average.

It said the price rise was made in response to rising costs of the country's power plants, including rising power-coal prices, increased costs on desulphuration facilities and investment in grid upgrading.

More than 80 percent of all the power generation companies suffered losses in the January-May period due to power-coal price rises.

Official statistics showed that power coal prices went up by more than 80 yuan per ton in the past two years. The prices had gone up by 60 yuan since the beginning of the year.

The commission also announced the country would exercise temporary price intervention on power coal as of Dec. 31, and power coal prices are capped below the price on June 19.

The policy was adopted as the commission expected the power-coal price to rise further because of the gap between domestic and international prices and tight supplies.

The commission also said urban and rural residents and sectors of farming and fertilizer production, as well as the quake-hit provinces of Sichuan, Shaanxi and Gansu, will be exempt from the price rise.

Industrial and commercial undertakings, however, would only see limited impact, as power expenses usually account for a small portion of their total costs, it said.

"The price rise in electricity would not have a fundamental impact on the country's inflation rate," said the NDRC official.

Cars queuing near a gas station on the Zhanlan Road in western Beijing on Thursday night.

Many drivers refueled their cars at a gas station on late Thursday night on the Zhanlan Road in western Beijing after hearing about the price hike of gasoline. A policeman was maintaining the order. 
 

At around 11 PM on?Thursday at a gas station on the Zhanlan Road in western Beijing, an official with the Beijing Municipal Development and Reform Commission, apparently unaware of the price hike, said she was sent to “observe the situation at the gas station”.

(China.org.cn, Xinhua News Agency June 19, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- 2 expedients to deal with oil price hike
- US airlines to delay Beijing flight over oil price hike
- Rumors of oil price hikes fuel market rally
Most Viewed >>
- Summer grain output to top 120m tons
- China to rein in ripple effect of energy price increases  
- Car models at Auto China 2008
- Auto China 2008 staged in Beijing
- Baosteel to pay almost twice for ore
- 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: 亚洲国产三级在线观看| 变态调教视频国产九色| 亚洲春色另类小说| 精品爆乳一区二区三区无码av| 国产成人av在线影院| 6一13小幻女| 日本强不卡在线观看| 十九岁日本电影免费完整版观看| 亚洲色图13p| 成在人线av无码免费高潮水| 亚洲av无码成人精品区狼人影院| 草莓在线观看视频| 国产精品后入内射日本在线观看| a在线观看免费网址大全| 欧美性色欧美a在线播放| 厨房切底征服岳| 91麻豆久久久| 成人亚洲欧美日韩在线观看| 免费福利在线播放| 高h视频在线播放| 国产精品久久久久无码av| 99国产精品热久久久久久夜夜嗨 | xxxxx69hd杨幂| 日本欧美一级二级三级不卡| 亚洲国产成人精品无码区在线观看| 男人j放进女人p全黄| 国产精品久久久久久搜索| JAPANRCEP老熟妇乱子伦视频| 成人五级毛片免费播放| 久久夜色精品国产欧美| 男女午夜爽爽大片免费| 国产91精品在线| 高嫁肉柳风车动漫| 国产精品不卡在线| 91网站在线看| 天堂资源在线中文| 久久精品无码一区二区三区免费| 精品国产_亚洲人成在线| 国产主播福利一区二区| 99久久精品国产免费| 日本一区二区三区欧美在线观看 |