Latest News:  
Beijing   Cloudy    25 / 15 ℃  City Forecast

English>>China Business

China likely to cut fuel prices this month: analysts

(Xinhua)

08:21, October 08, 2012

BEIJING, Oct. 6 (Xinhua) -- China is likely to cut its gasoline and diesel prices this month, as the international crude oil prices to which China's prices are linked are expected to head south.

Data released by Chem99.com, a major oil industry service provider, showed that as of Friday, the basket of crude oil prices used to calculate China's own fuel prices, namely Brent, Cinta, and Dubai, went down by an average of 1.86 percent since a previous adjustment last month.

Weighed down by worries over weak global growth, the prices will likely to see further slides, analysts said.

"If the prices maintain their current downward pace, the changing rates will move beyond the 4-percent window," said Zheng Xiaorui, an analyst with 315.com.cn, another industrial service provider.

China adopted an oil pricing mechanism in 2009 that allows China's top economic planner, the National Development and Reform Commission (NDRC), to adjust retail fuel prices when international crude oil prices change by more than 4 percent over 22 working days.

Chem99.com analyst Zhu Chunkai predicted the mechanism will take effect on Oct. 18.

News we recommend:
Let the train, take the strain Personal care market to keep growing An Apple a day isn't keeping critics away
Expo gives evidence of manufacturing shift China looks to Xinjiang for new energy China industrial profits decline further in Aug
Logistics co-op needed in China, ASEAN  The global use of yuan increases New Deal to Boost Consumption

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese weapons arouse discussions

  2. Photos touching you at the first sight

  3. Mounting calls for free access to Wi-Fi

  4. 6 crew detained after HK ship collision

  5. Found new species in submarine of Indonesia

  6. A Close Contact with Whales

Most Popular

Opinions

  1. Commentary: Unraveling the value mystique
  2. Commentary: Pricing strategies for success
  3. 'Economic war' with Japan unwise
  4. An end to the era of double-digit growth
  5. Human resources need more investment
  6. Japan should know facts rather than rhetoric prevail
  7. Be vigilant against resurgence of militarism in Japan
  8. Easy times gone for foreign firms in China
  9. Noda gov't in hot water as LDP eyes comeback
  10. White paper makes watertight case for Diaoyu claim

What's happening in China

Congestion dogs travelers

  1. HIV sufferers to receive mental counseling
  2. Chinese tourists head overseas during holiday
  3. Foxconn denies workers striking against overtime
  4. Tolls stop on bridge after 1.45b yuan in illegal fees
  5. Half-naked man gnaws woman's face, bites cop

China Features

  1. More chances for Chinese, Canadian businesses
  2. Culture invasion? Starbucks kisses Buddha
  3. Public should enjoy more 'tourism benefits'
  4. Ancient villages face losing their souls
  5. Economic circles key to Sino-Japan relations

PD Online Data

  1. Ministry of Water Resources
  2. Ministry of Railways
  3. People's Bank of China
  4. Ministry of Health
  5. Ministry of Culture