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Chineese government raises fuel prices

March 27/2012

(news.flanders-china) -- The Chinese government raised fuel prices on March 20 by a larger than expected 6% to 7% to help refiners reduce losses.

Retail prices for gasoline and diesel were raised by CNY600 per ton, the National Development and Reform Commission (NDRC) said.

The last increase was on February 8 when prices went up by CNY300  per ton. PetroChina Chairman Jiang Jiemin said earlier this month that its refining loss last year was larger than the CNY50 billion expected and was still widening.
Author:Anna Larionova
Category:General News
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