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Article: 1st Ld-Writethru: China cuts refined oil prices

Article from:
Xinhua News Agency
Article date:
January 14, 2007
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1st Ld-Writethru: China cuts refined oil prices

BEIJING, Jan. 13 (Xinhua) -- China has decided to cut the price of gasoline by 220 yuan (about 28 U.S. dollars) per ton as of Jan. 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) 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 to ...

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