China raises fuel prices by 9%-10%
Shanghai. November 1 (Gasgoo.com) – Oil product prices in China will raised by 9 percent or 500 yuan ($68) per ton starting today, China's economic regulatory body, National Development and Reform Commission announced on its official web site this morning.
The price hike is made to reduce the widening gap between soaring global crude prices and China's domestic oil product prices, NDRC said in the announcement.
As a result, Chinese car consumers will have to additional pay 0.4 yuan ($0.054) per liter on gasoline or 0.46 yuan ($0.062) on diesel. The price hike will lift the monthly consumer price index (CPI) by 0.05 percentage point, NDRC said.
The cost of rail cargo and air travel will also be driven higher, but rail and public transport fares will remain unchanged.
The table below shows the recent changes of oil product prices in China.
|
Oil products
|
Government-set wholesales prices
|
Average market prices nationwide
|
|
|
Before price rise
|
After price rise
|
After price rise
|
|
|
Gasoline
|
5,480 yuan ($733)
|
5,980 yuan ($800)
|
6,460 yuan($865)
|
|
Diesel
|
5,020 yuan ($672
|
5,520 yuan ($739)
|
5,960 yuan ($798)
|
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com
