亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线

 

Fuel price hike to boost refiners' bottom line

0 CommentsPrint E-mail Global Times, October 27, 2010
Adjust font size:

China raised gasoline prices by around 3 percent in order to reduce deficits at the nation's two major refineries amid increasing international crude oil prices.

"Starting from Oct 26, gasoline price increased by 230 yuan ($34.3) per ton and diesel by 220 yuan ($33) a ton," the National Development and Reform Commission, the country's economic planner said in a statement posted on its website Monday night.

Since October 1, international crude oil prices have rebounded above $80 a barrel. West Texas intermediate, also known as Texas light sweet crude prices settled at $82.52 a barrel Tuesday, up 1.02 percent.

While on London's Intercontinental Exchange, Brent North Sea crude settled at $83.54 a barrel Tuesday, an increase of 0.70 percent.

"The continuous surge in international prices will push domestic refiners into the red," said Wang Qiang, analyst with the Xiangcai Securities. Citigroup said that the 3 percent hike is a "small positive" for refiners' profitability.

Tuesday, shares of PetroChina, China's largest oil and gas producer, climbed 0.96 percent to 11.56 yuan ($1.73) on the Shanghai Stock Exchange.

Shares for Sinopec, the country's top oil refiner, closed at 9.17 yuan ($1.38) on the Shanghai Stock Exchange, down 0.54 percent.

In Asian markets Tuesday, the Shanghai Composite Index fell 0.32 percent, and Hong Kong's Hang Seng dropped 0.21 percent on concerns the fuel price hike will worsen inflation.

National Development and Reform Commission officials said the price rise was unlikely to push up inflation, as oil prices only account for a small part of CPI calculations, Xinhua quoted commission researcher Zhou Dadi as saying.

While higher fuel charges will affect inflation expectations "to some extent," the effect on overall prices will be "very small," the economic planning agency said in a separate statement Tuesday.

The stronger value of the yuan reduced the extent of the increase, it said.

Share gains were also supported by reported comments from a National Development and Reform Commission official about impending price reforms, which raised hopes that more frequent changes were in the works.

Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
    1. <ul id="556nl"><kbd id="556nl"><form id="556nl"></form></kbd></ul>
      <thead id="556nl"></thead>

      1. <em id="556nl"><tt id="556nl"></tt></em>
        <ul id="556nl"><kbd id="556nl"><form id="556nl"></form></kbd></ul>

        <ul id="556nl"><small id="556nl"></small></ul>
        1. <thead id="556nl"></thead>

          亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线 人妻无码久久影视 日韩久久久久久久久久久久 精品国产香蕉伊思人在线 无码国产手机在线a√片无灬 91在线视频无码