It's Happening....
First oil price hike in 2013
- Details
- Category: Ningbo Business
- Published: Thursday, 28 February 2013 07:15
At zero o'clock on February 25th, domestic fuel oil had its first price hike in the new year. The National Development and Reform Commission (NDRC) announced on 25th that the retail price of gasoline would be raised by 300 yuan per ton and diesel by 290 yuan per ton starting from zero that day.
Sinopec Ningbo branch and CNPC Ningbo branch informed that the prices of No.93 and No. 97 gasoline and No. 0 diesel would be lifted to 7.68 yuan per liter, 8.15 yuan per liter and 7.55 per liter respectively.
As the No.97 gasoline price was lifted to 8.15 yuan per liter, the fuel oil in Ningbo returned to the “eight yuan era”.
The first oil price hike in the new year
On the evening of 25th, the Sinopec Ningbo branch and CNPC Ningbo branch got the announcement successively about the oil price adjustment.
After the price adjustment, the maximum retail prices of No.93, No. 97 gasoline and No. 0 diesel in the gas stations supplied by Sinopec and CNPC in Ningbo would be 10218 yuan per ton, 10797 yuan per ton and 8820 yuan per ton respectively, which equal to 7.68 yuan per liter, 8.15 yuan per liter and 7.55 yuan per liter.
Before the price adjustment, the maximum prices of No.93 and No. 97 gasoline and No. 0 diesel were 7.43 yuan per liter, 7.90 yuan per liter and 7.29 yuan per liter respectively.
As the NDRC raised the retail oil prices, some of privately owned gas stations also raised the oil prices. Take Nanyuan Qianhu gas station for example, the latest prices of the three kinds oil are 7.58, 8.05 and 7.19 yuan per liter, whereas before, the maximum prices were 7.33, 7.80 and 7.19 yuan per liter.
Long car queue outside gas station on the evening of 24th
At about 7 p.m. on 24th, a Sinopec gas station in downtown was crowded with cars. More than ten cars were waiting at each of the six refueling bayonets.
The station manager told us while he was busy refueling cars, “in the afternoon, there were not many cars, for most people didn’t know the news; but after 6 p.m., more and more cars are coming. We haven’t had a break since we finished dinner.”
“No.93 gasoline, refill please.” said one car owner at Nanyuan Qianhu gas station. At several other gas stations, there are also long car queues, and most of the owners chose to fill their fuel tanks.
It is learned from Ningbo Nanyuan Petroleum Co., Ltd. that the turnover of its three gas stations last night was twice the volume of other days.
Railway passenger transportation prices remain still
The NDRC declared that this oil price adjustment range is consistent with domestic oil price establishing system and in accordance with international oil prices. Since November 16th, 2012, when oil prices were adjusted, because of good vision for American and European economic revival and continuous turbulences in Middle East, the crude oil price in international market went down before it went up again. In early February, certain crude oil futures prices went up back to 95 dollars and 115 dollars per barrel.
“Although oil prices have fallen recently, the average prices of the three kinds of crude oil on the international market which China’s oil prices are linked to have hiked by over 4% for 22 working days consecutively. This constitutes the boundary conditions for domestic oil price adjustment,” said someone with the NDRC.
The commission also pointed out that after the oil price adjustment, farmers, fishery (including off-shore fishery), forestry, urban public transportation and rural passenger transportation (including inter-island and rural waterway passenger transportation) would continue to be subsidized in line with the established subsidy mechanism. Meanwhile, in order to stabilize commodity prices and prevent chain price hikes, the prices of railway, urban bus and rural passenger transportation (including inter-island and rural waterway passenger transportation) will not be adjusted.
