Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Business Highlights Tools: Save | Print | E-mail | Most Read | Comment
Unchecked wholesale diesel prices destabilize system of supply and demand
Adjust font size:

As the international average oil price approaches US$92, the domestic wholesale price of processed oil saw another leap that resulted in an oil shortfall nationwide. Last week, dozens of cities raised oil price every single day. Diesel oil accounts for the biggest price rise. For example, the wholesale price of Zhengzhou diesel oil number zero rose by 330 to 400 yuan, reaching 6,370 yuan per ton.

"Although the season of autumn harvest has ended, the demand of diesel oil doesn't decline. The demand mainly comes from fishing ships which sail out after termination of the fishing ban. In addition, extra engineering projects also have a strong demand for diesel oil," said Li Yu, chief editor of Since the continuous increase of the international oil price, domestic oil refineries have suffered heavy losses, forcing them to reduce operation rates.

"We are faced with an increasing oil demand coupled with a decreasing supply. These two trends together push the oil price upwards. The tension between supply and demand will continue in the near future," said Li.

Experts pointed out that the situation might be remedied through a rational pricing system. However, with the current high oil price, it is not the right time to switch to a market-oriented pricing system. The National Development and Reform Commission (NDRC) also confirmed that there was no current plan to raise oil prices.

For more details, please read the full story in Chinese. (

( October 29, 2007)

Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
China Archives
Related >>
- Diesel supplies hit hard
- Diesel Oil, Fuel on Prohibited List for Processing Trade
- Guangzhou Not to Raise Diesel Price Despite Short Supply
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © All Rights Reserved E-mail: Tel: 86-10-88828000 京ICP证 040089号