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China raises retail oil prices

Global Times       Updated: 2018-01-15 10:23:13

Oil prices will increase starting midnight as part of the latest round of price adjustments, China Petroleum and Chemical Corporation Beijing Oil Products Company announced via its WeChat account on Friday.
Beijing standard (VI) 92-octane gasoline and 95-octane gasoline will be priced at 6.98 yuan ($1.08) per liter and 7.43 yuan per liter, respectively, after the adjustment, up by 0.14 yuan and 0.15 yuan each.
A full 50-liter gasoline tank is estimated to cost an extra 7.5 yuan if filled with 95 gasoline based on the above figures, it said. Diesel prices are also set to rise, the company said.
Oil price management rules state that prices of gasoline and diesel are adjusted every 10 working days according to the crude oil prices in the international market.
Prices of oil in Beijing have been steadily rising since June 23, 2017, when the Beijing standard (VI) 92-octane gasoline and 95-octane?gasoline were priced at 6.00 yuan and 6.39 yuan, respectively, according to the company trend chart.


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