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: 97人伦影院a级毛片| 五月婷婷深深爱| 网友自拍区一区二区三区| 国产成人精品视频网站| 91资源在线播放| 女人18毛片黄| 一级片一级毛片| 日本h无羞动漫在线观看网站| 亚洲av专区无码观看精品天堂| 欧美日韩黄色大片| 交换年轻夫妇5| 真实的和子乱拍免费视频| 和主人玩露出调教暴露羞耻| 野外三级国产在线观看 | 波多野结衣一区二区三区高清在线 | 性高湖久久久久久久久aaaaa| 久久人妻AV中文字幕| 日韩高清在线观看| 亚洲gv天堂gv无码男同| 欧美大片在线观看完整版| 亚洲欧美综合人成野草| 男人肌肌插女人肌肌| 免费观看的a级毛片的网站| 综合偷自拍亚洲乱中文字幕 | 久久精品男人影院| 久久久噜噜噜久久中文字幕色伊伊 | 国产男女猛烈无遮挡免费网站| 国产拳头交一区二区| 国产一卡二卡四卡免费| 免费一级欧美大片在线观看| 亚洲熟女综合色一区二区三区| 五月天国产成人AV免费观看| 中国在线观看免费的www| 欧美性色黄大片www喷水| 亲密爱人之无限诱惑| 白白的肥岳嗷嗷叫| 内射白浆一区二区在线观看| 精品成人一区二区三区四区| 君子温如玉po| 美女大量吞精在线观看456| 噜噜噜在线视频|