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Article: CHINA CUTS REFINED OIL PRICES.

Article from:
AsiaPulse News
Article date:
January 15, 2007
Copyright

BEIJING, Jan 15 Asia Pulse - China has decided to cut the price of gasoline by 220 yuan (US$28) per ton as of January 14, the National Development and Reform Commission (NDRC) announced here Saturday.

The factory price of kerosene for aviation will also drop by 90 yuan, the NDRC said in a circular released Saturday night.

The national development planner asked the two oil suppliers, China National Petroleum Corporation and China Petroleum and Chemical Corporation (Sinopec) (SSX:600028, SEHK:0386) to lower prices under the decision and guarantee supply of processed oil to meet market demands.

This is the second time in recent five years for China ...

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