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Article: Longwei Petroleum Expects Higher Margins with China's Latest Fuel Price Increase.
- Article from:
- PR Newswire
- Article date:
- September 8, 2009
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Expects to see an increase in gross profit of 4 to 5 percent on sales of its
current fuel inventories
TAIYUAN CITY, China, Sept. 8 /PRNewswire-Asia-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (BULLETIN BOARD: LPIH) , a leading oil and fuel wholesaler and distributor operating in Shanxi Province, China, today announced that it expects to see an increase in gross profit of 4 to 5 percent on sales of its current fuel inventories as a result of the latest Chinese government mandate to raise the benchmark retail price of diesel oil and gasoline by 0.22 RMB and 0.26 RMB per liter, respectively.
The National Development and Reform ...