Home>News Center>Bizchina
       
 

Ex-factory prices of gasoline, diesel raised
By Xie Ye (China Daily)
Updated: 2004-06-08 23:49

China National Petroleum Corp (CNPC), the nation's largest oil company, has raised ex-factory prices for gasoline and diesel to bail refineries from losses.

Analysts said it is less likely the government will pass the raise on ex-factory prices, different from retail or wholesale prices, down to consumers by hiking retail and wholesales prices in the short-term, although the ex-factory price hike would add pressure for such a move.

The CNPC has raised the ex-factory prices for both gasoline and diesel by 60 yuan (US$7.3) a ton since June 1, said a company sales manager.

"It is to encourage the production of the refineries to meet the market demands," said the sales manager on condition of anonymity.

The government has urged China's refineries to run at full capacity to meet soaring demand.

The manager said refineries are losing money because the ex-factory prices of oil products lags behind crude oil prices which have hit a decade-high.

The Beijing Times reported Monday that a sales branch of Sinopec -- the nation's second largest oil company -- has also raised the ex-factory prices for gasoline by 100 yuan (US$12.1) a ton.

The sales branch also raised the diesel rates by a smaller margin, the report said.

Sinopec officials, however, denied they have adjusted prices recently.

Insiders, however, said Sinopec's refineries are suffering "serious losses" under the current price level.

The refinery-heavy Sinopec purchases about 70 per cent of the crude it processes from imports, rival CNPC and from the smaller China National Offshore Oil Corp.

The imported crude oil prices have leveled with, if not exceeded, the ex-factory prices for refined oil products, squeezing the profit margin out of refineries.

"Sinopec's refineries are losing money with prices at this level," said one insider.

Under the current pricing system, the government sets benchmark prices for wholesale and retail according to the international markets, and allows the Sinopec and CNPC to float those prices by 8 per cent.

Based on the benchmark prices, the oil companies then decide their ex-factory prices, leaving enough profit margin for its wholesale business.

Analysts said the increase in the ex-factory prices could push retail and wholesales prices up.

Industrial sources said the two largest oil companies have applied to the National Development and Reform Commission to raise the wholesales prices for diesel and gasoline by 300 yuan (US$36.2) a ton to reflect international prices hikes.

But analysts said the NDRC is unlikely to raise prices immediately because the demand for diesel has picked up during the current farming season.

The government worries further price increases would raise costs for poor farmers.

Earlier in March, benchmark wholesale prices for gasoline went up by 300 yuan (US$36.3) a ton, or 8 per cent. The diesel price went up by 280 yuan (US$33.8) a ton.

Gong Jingshuang, an expert with CNPC's consulting institute, also said the NDPC will not increase retail prices as international prices are dropping due to more output from oil producing countries.



 
  Story Tools  
   
  Related Stories  
   
China speeds up building west-east oil artery
   
Rising prices make waves?
   
World oil prices soar to record highs
Manufacturers, Exporters, Wholesalers - Global trade starts here.

 

Advertisement
         
主站蜘蛛池模板: 99re国产视频| 久久伊人精品一区二区三区| 男人女人做a视频| 国产一区二区小早川怜子| 婷婷色在线播放| 国产精选91热在线观看| avtt亚洲天堂| 少妇性俱乐部纵欲狂欢少妇| 丰满人妻一区二区三区视频| 日韩在线免费播放| 亚洲av无码乱码在线观看| 欧美日韩一区二区综合| 亚洲色成人www永久网站| 精品人妻一区二区三区四区在线| 国产一级小视频| 香港三日本8A三级少妇三级99| 国产欧美日韩精品丝袜高跟鞋| 3751性欧美视频在线播放| 国自产精品手机在线观看视频 | 中文国产成人精品久久不卡| 日本夫妇交换456高清| 久久精品国产亚洲AV香蕉| 极品虎白女在线观看一线天| 亚洲婷婷在线视频| 欧美精品在线免费观看| 亚洲精品成人网站在线观看 | 欧美黑人xxxx又粗又长| 人人做人人爽人人爱| 疯狂七十二小时打扑克| 加勒比HEZYO黑人专区| 美女网站一区二区三区| 国产a级毛片久久久精品毛片| 视频一区中文字幕| 国产亚洲午夜高清国产拍精品 | 嫩草影院在线视频| 一级片免费网站| 成人一级黄色大片| 一进一出抽搐呻吟| 快穿之性色无边(高h)| 丁香六月久久久| 小荡货公共厕所|