The petrol price in China

[louispower]

anybody here knows the petrol price in China? Today is July 8th, in my city the petrol price for 93# is USD0.88/litre, 93# is about same to your 89#, but this 93# petrol is Ethanol gasoline!

So the price for one gallon is USD0.88 x 3.785 = USD3.33 /gallon, has been higher than it in US? At this price highway fees are still charged when you drive on it.

I want to be resident at US now.

 

[dogman dan]

Where I live, in the SW USA, $260 usd per gallon and falling.

 

[louispower]

Where I live, in the SW USA, $260 usd per gallon and falling.

while yours are falling, ours is rising twicely last month, first on June 1st, second one on June 30th. Experts here said this is because oil price is rising on the international market, economists here from the petrol company said they are losing money even at the increasaed price, people here said: "shit" .

 

[GTA1]

Not so fast here!

Gasoline in China tend to be slightly above the US Retail Average, though in practice, it is more expensive because it is a lower grade of fuel that contain high amounts of sulfur, but lesser amounts of diluents like ethanol or MMT.

That is because gasoline is made from cheaper grades of oil (heavy, sour crude) that have to be shipped from the Gulf --- though China do have a small amount of domestic production that is rapidly dwindling.

However, because fuel prices are government controlled, during the super spike run up to 2008, fuel prices were kept artificially low and was considerably lower than in the US.

Prices have now caught up, and is back to the normal level of being slightly above the US average ($3 a gallon), for an inferior grade of relatively high sulfur fuel that would clong most catalytic converters and thus, is unusable in EU and USA.

Expect prices to steadily increase until it is closer to 1.5x the US retail average.




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China Increases Diesel, Gasoline Prices to Help Oil Refiners


By Bloomberg News

June 30 (Bloomberg) -- China, the world’s second-biggest energy consumer, raised fuel prices by as much as 11 percent today to prevent China Petroleum & Chemical Corp. from making losses as crude oil costs rise.

Pump prices for 90 octane gasoline will be set at a maximum of 5.71 yuan ($0.84) a liter, or about $3.16 a gallon, in Beijing, the National Development and Reform Commission said yesterday. That compares with an average of $2.69 a gallon in the U.S. The fuel price increase is China’s third this year.

China Petroleum, also known as Sinopec, the nation’s biggest refiner, said on May 22 it will lose money turning oil into fuels should crude trade above $60 a barrel and the government stop it increasing prices. China’s consumer prices fell for a fourth month in May, making it easier for the government to raise the cost of oil.


http://www.bloomberg.com/apps/news?pid=20601080&sid=aMNCzUbsSsJM

 

[Lock]

I read (...uhhh.. recently/somewhere/I think) that China had recently raised it's Official Rate/gal (or /l or whatever) by a significant amount... edging their Planned Economy a little closer to Reality perhaps. What the "West" terms a "market correction"...
tks

 

[dogman dan]

Mexico does similar things, since PEMEX is owned by the govt. So price changes may only take place once a year. Speculators never get their fangs into thier prices, so it usually is much cheaper than in the US and less fluctuations in price. In the US, you can count on a price increase for every holiday.