Supply shortage delayed launch of new gasoline
Due to a supply shortage of the National IV Standard gasoline, its launching will be done by the end of the year. another reason for its delay is that the National IV Standard gas is still waiting for the approval of the National Development and Reform Commission to approve its pricing policy.
The new gasoline will have a much lower sulfur content than the National III Standard gasoline greatly reducing vehicle emission and sulfur dioxide emissions, bringing down the total emissions to 95,000 tons per year. the only set back is its price which is 0.17 yuan per liter higher, therefore the cost of a car running on 200 liters per month will increase to 400 yuan a year.
Introduction of the new gasoline was approved in June, then supply contracts were given to Sinopec, CNOOC and CNPC. Subsidies will be given to taxis and bus companies and adjustments will be based on the new gasoline price.