Wednesday, November 26, 2008

The two giants: oil has been in the implementation of the "maximum retail price"

"Business News" yesterday from the China National Petroleum [11.57 3.21%] Natural Gas Corporation (hereinafter referred to as "oil") and China Petrochemical Corporation ( "Sinopec") that were being drawn up in the finished oil Price reforms, with the two major oil companies have had to communicate.

Sinopec insiders who said the program Development and Reform Commission to seek their views fully, "the two companies is no exception." China National Petroleum Group, said that as the program does not launch, the company can not make any remarks.

Media reports yesterday said "the adjustment is in the refined oil pricing mechanism reform program, the company has tentatively set the current benchmark retail prices of refined oil allowed to float up and down the pricing mechanism was changed to the highest retail prices."

In the oil and petrochemical companies in the middle of this person said that the business has been in the implementation of the "maximum retail price." Under the current pricing mechanism, implemented by the Government of China for the provinces (autonomous regions and municipalities) and the central city of gasoline and diesel retail prices of the benchmark table.

"In short, we have seen retail sales of the listed price is a benchmark price plus 8 percent after the price per liter for the conversion price." PetroChina said one person, which is why the international oil price After the fall, private gas stations have the courage to cut the retail prices of reasons, "because there is room to drop."

Sinopec subsidiary, a sales person explained, "We are always in accordance with the requirements in the implementation of the National Development and Reform Commission, in other words, companies can lower oil prices, but can not be allocated on.

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